Gasparilla Music Foundation Inc

Analysis

Gasparilla Music Foundation Inc is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in July 2013, 13 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 April 2023, Gasparilla Music Foundation Inc reported income of $2.0m and spending of $2.7m, spending 135% of what it took in. Across the 5 years on record, from April 2019 to April 2023, income grew from $1.9m to $2.0m (+7.0%), an average of +1.7% a year. The sharpest change came in the year to April 2022, when income rose by 2069%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Gasparilla Music Foundation Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 88th percentile within FL. Charities of a similar size with the same main cause include Westwood Village Improvement Assn ($2.0m), American Institute of Mining Metallurgical and Petroleum Engine ($2.0m) and Kuumbwa Jazz Society ($2.0m).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 27% and program service revenue 73% of the total. Other salaries and wages came to $352k. At year end it held assets of $1.0m against liabilities of $741k, net assets of $304k. It reported 10 employees.