Musicall Inc

Analysis

Musicall Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in May 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2024, Musicall Inc reported income of $1.4m and spending of $1.3m, spending 92% of its income. Across the 6 years on record, from July 2019 to July 2024, income grew from $550k to $1.4m (+152%), an average of +20% a year. The sharpest change came in the year to July 2024, when income rose by 76%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Musicall Inc 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 83rd percentile, and in the 85th percentile within FL. Charities of a similar size with the same main cause include Tryon Palace Foundation Inc ($1.4m), Cedille Chicago NFP ($1.4m) and Avenue Concept Inc ($1.4m).

On its Form 990 for the period ending July 2024, revenue came from contributions and grants 74% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $233k (18% of expenses). Other salaries and wages came to $468k. At year end it held assets of $340k against liabilities of $0, net assets of $340k. It reported 6 employees.