Inspire Music Service Hope Inc

Analysis

Inspire Music Service Hope Inc is a registered charity in United States, based in Gilbert, AZ. It received its IRS tax-exemption ruling in September 2022, 4 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, Inspire Music Service Hope Inc reported income of $288k and spending of $467k, spending 162% of what it took in. Across the 4 years on record, from August 2020 to December 2023, income grew from $117k to $288k (+147%), an average of +35% a year. The sharpest change came in the year to December 2021, when income rose by 85%. Over the whole period it spent 139% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Inspire Music Service Hope Inc 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 61st percentile, and in the 59th percentile within AZ. Charities of a similar size with the same main cause include Generations Project Inc ($288k), Berwin Art Education Center ($288k) and Brazilian Cultural Arts Center of Santa Barbara ($288k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Other salaries and wages came to $48k. It paid $65k in professional fundraising fees. At year end it held assets of $84k against liabilities of $415k, net assets of -$331k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.