Greater Akron Musical Asociation Foundation

Analysis

Greater Akron Musical Asociation Foundation is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in April 1990, 36 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Greater Akron Musical Asociation Foundation reported income of $813k and spending of $407k, leaving 50% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $865k to $813k (-6.1%), an average of -1.6% a year. The sharpest change came in the year to June 2023, when income rose by 146%. Over the whole period it spent 66% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Greater Akron Musical Asociation Foundation 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 77th percentile within OH. Charities of a similar size with the same main cause include United Way of Greater Texarkana ($813k), New England Employee Benefits Council Inc ($813k) and Honor Veterans Now ($813k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.6% of the total. At year end it held assets of $7.6m against liabilities of $0, net assets of $7.6m.