Record Company Inc

Analysis

Record Company Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in March 2010, 16 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Record Company Inc reported income of $1.5m and spending of $2.5m, spending 167% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.1m to $1.5m (+35%), an average of +7.8% a year. The sharpest change came in the year to June 2020, when income rose by 71%. Over the whole period it spent 69% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Record Company Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within MA. Charities of a similar size with the same main cause include Unitary Fund ($1.5m), Film Prize Foundation Inc ($1.5m) and Lake Superior Railroad Museum ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 47% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $95k (3.8% of expenses). Other salaries and wages came to $678k. At year end it held assets of $12.5m against liabilities of $9.2m, net assets of $3.3m. It reported 22 employees.