Music Therapy Services Inc

Analysis

Music Therapy Services Inc is a registered charity in United States, based in Springfield, MO. It received its IRS tax-exemption ruling in May 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, Music Therapy Services Inc reported income of $440k and spending of $483k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $343k to $440k (+28%), an average of +6.4% a year. The sharpest change came in the year to December 2022, when income rose by 30%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Music Therapy Services Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 66th percentile within MO. Charities of a similar size with the same main cause include Developing Artists Foundation Inc ($440k), Santa Monica Arts Parents Association ($440k) and Antique Powerland Museum Association Inc ($440k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $70k (14% of expenses). Other salaries and wages came to $20k. At year end it held assets of $77k against liabilities of -$18k, net assets of $95k. It reported 2 employees.