Friends of Music

Analysis

Friends of Music is a registered charity in United States, based in Columbus, NE. It received its IRS tax-exemption ruling in May 2009, 17 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending April 2024, Friends of Music reported income of $71k and spending of $61k, spending 85% of its income. Across the 2 years on record, from April 2023 to April 2024, income fell from $74k to $71k (-3.9%), an average of -3.9% a year. Over the whole period it spent 76% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of Music sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 26th percentile within NE. Charities of a similar size with the same main cause include Radiant Light Broadcasting TV 49 ($71k), Great River Chorale ($71k) and 500 Women Scientists ($71k).

On its Form 990-EZ for the period ending April 2024, revenue came from contributions and grants 28% of the total. At year end it held assets of $70k against liabilities of $0, net assets of $70k.