Open Tone Music LLC

Analysis

Open Tone Music LLC is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in June 2014, 12 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Open Tone Music LLC reported income of $403k and spending of $372k, spending 92% of its income. Across the 3 years on record, from December 2019 to December 2022, income grew from $255k to $403k (+58%), an average of +26% a year. The sharpest change came in the year to December 2021, when income rose by 28%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Open Tone Music LLC sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 67th percentile within OH. Charities of a similar size with the same main cause include Laguna Dance No Value ($403k), Odunde Inc ($403k) and Laguardia High School Parents Association Inc ($403k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 66% and program service revenue 34% of the total. At year end it held assets of $134k against liabilities of $17k, net assets of $117k. It reported 2 employees.