Elemental Music

Analysis

Elemental Music is a registered charity in United States, based in Santa Monica, CA. It received its IRS tax-exemption ruling in November 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, Elemental Music reported income of $1.2m and spending of $1.0m, spending 88% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $572k to $1.2m (+103%), an average of +27% a year. The sharpest change came in the year to June 2023, when income rose by 65%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Elemental Music sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within CA. Charities of a similar size with the same main cause include Virginia Business Higher Education Council ($1.2m), Crescendo Competitions Inc ($1.2m) and Friends of the Governors Mansion ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 44% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $103k (10% of expenses). Other salaries and wages came to $64k. At year end it held assets of $581k against liabilities of $214k, net assets of $368k. It reported 54 employees.