Los Gatos Music and Arts Inc

Analysis

Los Gatos Music and Arts Inc is a registered charity in United States, based in Los Gatos, CA. It received its IRS tax-exemption ruling in September 2008, 18 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending October 2023, Los Gatos Music and Arts Inc reported income of $140k and spending of $248k, spending 177% of what it took in. Across the 5 years on record, from October 2019 to October 2023, income fell from $201k to $140k (-30%), an average of -8.7% a year. The sharpest change came in the year to October 2023, when income dropped by 38%. Over the whole period it spent 110% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Los Gatos Music and Arts Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 48th percentile within CA. Charities of a similar size with the same main cause include Reading Civic Opera Society Incorporated ($140k), Historical Society of the Episcopal Church ($140k) and The Art Glass Center Glen Echo Incorporated ($140k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 87% and program service revenue 10% of the total. At year end it held assets of $8,803 against liabilities of $85k, net assets of -$76k.