Musical Mentors Collaborative Inc

Analysis

Musical Mentors Collaborative Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 2012, 14 years ago. Its declared purposes cover education, which this site groups under education and training. 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 May 2023, Musical Mentors Collaborative Inc reported income of $273k and spending of $284k, spending 104% of its income. Across the 3 years on record, from May 2021 to May 2023, income fell from $408k to $273k (-33%), an average of -18% a year. The sharpest change came in the year to May 2022, when income dropped by 33%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Musical Mentors Collaborative Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 57th percentile within NY. Charities of a similar size with the same main cause include Proverbs 226 ($273k), Tlbu Foundation Inc ($273k) and Literacy Volunteers of Morris County Inc ($273k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 98% and program service revenue 1.9% of the total. Compensation of current officers, directors and key employees was $42k (15% of expenses). Other salaries and wages came to $121k. At year end it held assets of $42k against liabilities of $1,299, net assets of $41k. It reported 7 employees.