Friends of Music Hall

Analysis

Friends of Music Hall is a registered charity in United States, based in Cincinnati, OH. It received its IRS tax-exemption ruling in March 1993, 33 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 August 2023, Friends of Music Hall reported income of $502k and spending of $457k, spending 91% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $602k to $502k (-17%), an average of -4.5% a year. The sharpest change came in the year to August 2021, when income rose by 88%. Over the whole period it spent 61% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of Music Hall sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within OH. Charities of a similar size with the same main cause include Security Bsides Las Vegas Inc ($502k), Ensemble Music New Mexico ($502k) and Firecracker Forum ($502k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 14% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $91k (20% of expenses). At year end it held assets of $17.8m against liabilities of $11k, net assets of $17.8m.