Foundation for Art and Music in Elementary Education Inc

Analysis

Foundation for Art and Music in Elementary Education Inc is a registered charity in United States, based in Fort Wayne, IN. It received its IRS tax-exemption ruling in April 1990, 36 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, Foundation for Art and Music in Elementary Education Inc reported income of $143k and spending of $204k, spending 143% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $126k to $143k (+14%), an average of +3.2% a year. The sharpest change came in the year to June 2023, when income dropped by 24%. Over the whole period it spent 111% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Foundation for Art and Music in Elementary Education Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 44th percentile within IN. Charities of a similar size with the same main cause include Oregon Fallen Badge Foundation ($143k), Glendale Kiwanis Foundation ($143k) and LA Casa Dominicana-The Dominican House ($143k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 73% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $58k (28% of expenses). Other salaries and wages came to $37k. At year end it held assets of $86k against liabilities of $0, net assets of $86k. It reported 3 employees.