Soundcorps Inc

Analysis

Soundcorps Inc is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in May 2015, 11 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, Soundcorps Inc reported income of $406k and spending of $389k, spending 96% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $351k to $406k (+16%), an average of +5.0% a year. The sharpest change came in the year to December 2022, when income rose by 42%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Soundcorps Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 68th percentile within TN. Charities of a similar size with the same main cause include Afterwork Theater Inc ($406k), Quincy Society of Fine Arts ($406k) and Palm Springs Historical Society ($406k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 3.2% of the total. Compensation of current officers, directors and key employees was $76k (20% of expenses). Other salaries and wages came to $56k. At year end it held assets of $98k against liabilities of $0, net assets of $98k. It reported 7 employees.