Soundwaves Art Foundation

Analysis

Soundwaves Art Foundation is a registered charity in United States, based in Lockhart, TX. It received its IRS tax-exemption ruling in February 2014, 12 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2023, Soundwaves Art Foundation reported income of $3.3m and spending of $2.7m, spending 80% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $1.8m to $3.3m (+84%), an average of +23% a year. The sharpest change came in the year to December 2022, when income rose by 35%. Over the whole period it spent 79% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Soundwaves Art Foundation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 92nd percentile within TX. Charities of a similar size with the same main cause include North Central Kansas Coordinated Transit Council Inc ($3.3m), Adoption Connection Pa ($3.3m) and Neighborhood Centers of Johnson County ($3.3m).

Compensation of current officers, directors and key employees was $391k (15% of expenses). Other salaries and wages came to $260k. At year end it held assets of $2.7m against liabilities of $50k, net assets of $2.7m. It reported 7 employees.