Hopewell Music Cooperative-North

Analysis

Hopewell Music Cooperative-North is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in January 2014, 12 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, Hopewell Music Cooperative-North reported income of $281k and spending of $322k, spending 115% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $334k to $281k (-16%), an average of -3.4% a year. The sharpest change came in the year to December 2021, when income rose by 31%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hopewell Music Cooperative-North sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 59th percentile within MN. Charities of a similar size with the same main cause include San Diego Winds ($281k), Bullard Memorial Farm Association ($281k) and Oak Hill Cemetery Historic Preservation Foundation ($281k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 9.8% of the total. Compensation of current officers, directors and key employees was $34k (11% of expenses). Other salaries and wages came to $193k. At year end it held assets of $231k against liabilities of $26k, net assets of $205k. It reported 14 employees.