Qubit New Music

Analysis

Qubit New Music is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 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 (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, Qubit New Music reported income of $64k and spending of $41k, leaving 36% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $63k to $64k (+0.7%), an average of +0.7% a year. Over the whole period it spent 76% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Qubit New Music sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 26th percentile within NY. Charities of a similar size with the same main cause include Northern California Society for Psychoanalytic Psychology ($64k), Francis Howell Central Sensationsbooster Club ($64k) and Young Artists Philharmonic Inc ($64k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 1.4% of the total. At year end it held assets of $164k against liabilities of $0, net assets of $164k.