Muzik 3 Foundation Inc

Analysis

Muzik 3 Foundation Inc is a registered charity in United States, based in LA Jolla, CA. It received its IRS tax-exemption ruling in December 2000, 26 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 October 2023, Muzik 3 Foundation Inc reported income of $250k and spending of $391k, spending 156% of what it took in. Across the 3 years on record, from October 2021 to October 2023, income fell from $2.0m to $250k (-87%), an average of -64% a year. The sharpest change came in the year to October 2023, when income rose by 397%. Over the whole period it spent 31% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Muzik 3 Foundation Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 61st percentile within CA. Charities of a similar size with the same main cause include Saint Albans Museum Inc ($250k), Illinois Theatre Association ($250k) and Miami Black History Museum Inc ($250k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 20% of the total. At year end it held assets of $1.7m against liabilities of $0, net assets of $1.7m.