Virginia Waring International Piano Competition

Analysis

Virginia Waring International Piano Competition is a registered charity in United States, based in Palm Springs, CA. It received its IRS tax-exemption ruling in May 1987, 39 years ago. 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 June 2024, Virginia Waring International Piano Competition reported income of $837k and spending of $323k, leaving 61% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $286k to $837k (+192%), an average of +24% a year. The sharpest change came in the year to June 2022, when income rose by 360%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Virginia Waring International Piano Competition sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 78th percentile within CA. Charities of a similar size with the same main cause include The Milwaukee Rehabilitation Center Inc ($837k), National Maritime Historical Society ($837k) and Western Pocono Community Library ($837k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 71% and program service revenue 13% of the total. Other salaries and wages came to $141k. At year end it held assets of $967k against liabilities of $2,958, net assets of $964k. It reported 7 employees.