Universal Music Center Inc

Analysis

Universal Music Center Inc is a registered charity in United States, based in Red Wing, MN. It received its IRS tax-exemption ruling in April 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, Universal Music Center Inc reported income of $157k and spending of $131k, spending 83% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $143k to $157k (+9.8%), an average of +9.8% a year. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Universal Music Center Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 46th percentile within MN. Charities of a similar size with the same main cause include Italian Community Center ($157k), Music Performance Trust Funds 2 ($157k) and Lincoln Institute of Public Opinion Research Inc ($157k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 37% of the total. At year end it held assets of $80k against liabilities of $5,584, net assets of $75k.