Healing Music Incorporated

Analysis

Healing Music Incorporated is a registered charity in United States, based in Ooltewah, TN. It received its IRS tax-exemption ruling in August 2016, 10 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 November 2023, Healing Music Incorporated reported income of $803k and spending of $757k, spending 94% of its income. Across the 5 years on record, from November 2019 to November 2023, income grew from $348k to $803k (+131%), an average of +23% a year. The sharpest change came in the year to November 2022, when income rose by 73%. Over the whole period it spent 84% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Healing Music Incorporated sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 78th percentile within TN. Charities of a similar size with the same main cause include Faith Mountain Ministries Inc ($803k), Jewish Student Enrichment Center Inc ($804k) and Roever Educational Assistance Programs International Inc ($803k).

On its Form 990 for the period ending November 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $54k (7.1% of expenses). Other salaries and wages came to $30k. At year end it held assets of $507k against liabilities of $0, net assets of $507k.