World Music Foundation

Analysis

World Music Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in August 2015, 11 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, World Music Foundation reported income of $80k and spending of $66k, spending 83% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $23k to $80k (+240%), an average of +84% a year. The sharpest change came in the year to December 2023, when income rose by 349%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, World Music Foundation sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 32nd percentile within IL. Charities of a similar size with the same main cause include Virginia Winds Academy Inc ($80k), Avon Grove Community Theater ($80k) and Old Village of Union Historical Sociey ($80k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 16% of the total. At year end it held assets of $19k against liabilities of $0, net assets of $19k.