Upbeat Music and Arts Center

Analysis

Upbeat Music and Arts Center is a registered charity in United States, based in Chicago, IL. 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Upbeat Music and Arts Center reported income of $431k and spending of $350k, spending 81% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $277k to $431k (+56%), an average of +12% a year. The sharpest change came in the year to June 2023, when income rose by 48%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Upbeat Music and Arts Center sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within IL. Charities of a similar size with the same main cause include Academy of Performing Arts Incorporated ($431k), Dellora a Norris Cultural Arts Center Ltd ($431k) and Gaura Nitai Foundation ($431k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 41% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $44k (13% of expenses). Other salaries and wages came to $176k. At year end it held assets of $176k against liabilities of $4,987, net assets of $171k. It reported 20 employees.