Harmonic Music Foundation Inc

Analysis

Harmonic Music Foundation Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in June 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Harmonic Music Foundation Inc reported income of $671k and spending of $682k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $951k to $671k (-29%), an average of -8.4% a year. The sharpest change came in the year to December 2021, when income rose by 62%. Over the whole period it spent 110% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Harmonic Music Foundation Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 48th percentile within DC. Charities of a similar size with the same main cause include Swans Market Place Inc ($671k), Arts Action Alliance Foundation ($671k) and Pure Theatre ($671k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.1% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $62k (9.0% of expenses). Other salaries and wages came to $269k. At year end it held assets of $135k against liabilities of $535k, net assets of -$400k. It reported 35 employees.