Music Ministries Inc

Analysis

Music Ministries Inc is a registered charity in United States, based in Evansville, IN. It received its IRS tax-exemption ruling in August 1976, 50 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 2023, Music Ministries Inc reported income of $598k and spending of $645k, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $539k to $598k (+11%), an average of +2.6% a year. The sharpest change came in the year to December 2020, when income rose by 27%. Over the whole period it spent 93% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Music Ministries Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within IN. Charities of a similar size with the same main cause include Rainbow Lodge Retreat Center ($598k), Ascension One Collective Inc ($598k) and The Vine Hebron Inc ($598k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $116k (18% of expenses). Other salaries and wages came to $133k. At year end it held assets of $669k against liabilities of $183k, net assets of $486k. It reported 7 employees.