Newport Harbor Music Education Foundation Inc

Analysis

Newport Harbor Music Education Foundation Inc is a registered charity in United States, based in Newport Beach, CA. It received its IRS tax-exemption ruling in December 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 December 2023, Newport Harbor Music Education Foundation Inc reported income of $61k and spending of $73k, spending 120% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $98k to $61k (-38%), an average of -38% a year. The sharpest change came in the year to December 2023, when income dropped by 38%. Over the whole period it spent 113% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Newport Harbor Music Education Foundation Inc sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 26th percentile within CA. Charities of a similar size with the same main cause include Semo Electric Foundation Inc ($61k), Parent Booster USA Inc ($61k) and Yellow Rhino Ministries ($61k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 55% of the total. At year end it held assets of $40k against liabilities of $1,722, net assets of $38k.