South Florida Friends of Classical Music

Analysis

South Florida Friends of Classical Music is a registered charity in United States, based in Miami Lakes, FL. It received its IRS tax-exemption ruling in September 2011, 15 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 December 2022, South Florida Friends of Classical Music reported income of $121k and spending of $184k, spending 153% of what it took in. Across the 3 years on record, from December 2020 to December 2022, income fell from $126k to $121k (-4.6%), an average of -2.3% a year. The sharpest change came in the year to December 2021, when income rose by 41%. Over the whole period it spent 115% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, South Florida Friends of Classical Music sits at the 47th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 45th percentile within FL. Charities of a similar size with the same main cause include Watertown Concert Association ($121k), Framework Video Community ($121k) and Calidanza Dance Company ($121k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 89% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $28k (15% of expenses). At year end it held assets of $16k against liabilities of $58k, net assets of -$41k.