Hickory Music Factory Inc

Analysis

Hickory Music Factory Inc is a registered charity in United States, based in Hickory, NC. It received its IRS tax-exemption ruling in May 2012, 14 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hickory Music Factory Inc reported income of $196k and spending of $164k, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $117k to $196k (+68%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 83%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hickory Music Factory 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 53rd percentile, and in the 51st percentile within NC. Charities of a similar size with the same main cause include Johnstown State Theater Foundation ($196k), True Soul Media Group ($196k) and Young Dance Collective Inc ($196k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 31% and program service revenue 48% of the total. Other salaries and wages came to $74k. At year end it held assets of $340k against liabilities of $2,178, net assets of $338k. It reported 3 employees.