Songs for Sound Inc

Analysis

Songs for Sound Inc is a registered charity in United States, based in Franklin, TN. It received its IRS tax-exemption ruling in March 2012, 14 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Songs for Sound Inc reported income of $178k and spending of $228k, spending 128% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $469k to $178k (-62%), an average of -28% a year. The sharpest change came in the year to December 2021, when income rose by 82%. Over the whole period it spent 134% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Songs for Sound Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 52nd percentile within TN. Charities of a similar size with the same main cause include Crittenton Youth Services ($178k), Kings of Hope Inc ($178k) and Fg-Hope Inc ($178k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $81k (36% of expenses). Other salaries and wages came to $26k. At year end it held assets of $56k against liabilities of $389k, net assets of -$333k. It reported 3 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.