Flint Institute of Music

Analysis

Flint Institute of Music is a registered charity in United States, based in Flint, MI. It received its IRS tax-exemption ruling in March 1971, 55 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Flint Institute of Music reported income of $12.5m and spending of $14.5m, spending 116% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income grew from $10.3m to $12.5m (+21%), an average of +4.8% a year. The sharpest change came in the year to May 2022, when income rose by 83%. Over the whole period it spent 82% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Flint Institute of Music sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MI. Charities of a similar size with the same main cause include Population Reference Bureau Inc ($12.5m), Flint Cultural Center Foundation ($12.5m) and Walt Disney Family Museum ($12.5m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 62% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $404k (2.8% of expenses). Other salaries and wages came to $5.2m. At year end it held assets of $35.4m against liabilities of $1.2m, net assets of $34.2m. It reported 601 employees.