Common Chord

Analysis

Common Chord is a registered charity in United States, based in Davenport, IA. It received its IRS tax-exemption ruling in February 2004, 22 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 June 2023, Common Chord reported income of $890k and spending of $1.2m, spending 132% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $300k to $890k (+197%), an average of +31% a year. The sharpest change came in the year to June 2020, when income rose by 280%. Over the whole period it spent 120% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Common Chord sits at the 85th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 80th percentile within IA. Charities of a similar size with the same main cause include Calfee Community and Cultural Center Inc ($890k), Portland Baroque Orchestra ($891k) and Mabou Mines Development Foundation Inc ($890k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 63% and program service revenue 9.4% of the total. Compensation of current officers, directors and key employees was $90k (7.6% of expenses). Other salaries and wages came to $310k. At year end it held assets of $3.6m against liabilities of $1.7m, net assets of $2.0m. It reported 33 employees.