Santa Monica Bay Music Foundation

Analysis

Santa Monica Bay Music Foundation is a registered charity in United States, based in Santa Monica, CA. It received its IRS tax-exemption ruling in January 2012, 14 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 December 2023, Santa Monica Bay Music Foundation reported income of $722k and spending of $627k, spending 87% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $497k to $722k (+45%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 25%. Over the whole period it spent 97% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Santa Monica Bay Music Foundation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 77th percentile within CA. Charities of a similar size with the same main cause include Works of Our Hands Youth Outreach Center ($722k), FC Forza Inc ($723k) and Two by Two Character Development ($722k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 5.8% of the total. Compensation of current officers, directors and key employees was $26k (4.2% of expenses). Other salaries and wages came to $198k. At year end it held assets of $181k against liabilities of $0, net assets of $181k. It reported 36 employees.