Heart of Texas Country Music Museum Inc

Analysis

Heart of Texas Country Music Museum Inc is a registered charity in United States, based in Brady, TX. It received its IRS tax-exemption ruling in August 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 December 2023, Heart of Texas Country Music Museum Inc reported income of $53k and spending of $100k, spending 189% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $324k to $53k (-84%), an average of -60% a year. The sharpest change came in the year to December 2022, when income dropped by 88%. Over the whole period it spent 42% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Heart of Texas Country Music Museum Inc sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 21st percentile within TX. Charities of a similar size with the same main cause include Prometheus Symphony Orchestra Inc ($53k), Yoakum Heritage Museum ($53k) and Jimmy Jack Foundation ($53k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $242k against liabilities of $0, net assets of $242k.