Latin Songwriters Hall of Fame Inc

Analysis

Latin Songwriters Hall of Fame Inc is a registered charity in United States, based in Miami Beach, FL. It received its IRS tax-exemption ruling in June 2014, 12 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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 2022, Latin Songwriters Hall of Fame Inc reported income of $485k and spending of $582k, spending 120% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $440k to $485k (+10%), an average of +3.3% a year. The sharpest change came in the year to December 2022, when income rose by 784%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Latin Songwriters Hall of Fame Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 72nd percentile within FL. Charities of a similar size with the same main cause include Crescent Cemetery Inc ($485k), Mounds Senior Citizens Incorporated ($486k) and Sav-A-Life Ministry of Dublin Inc ($485k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $60k against liabilities of $180k, net assets of -$121k.