Hear Now Music Festival

Analysis

Hear Now Music Festival is a registered charity in United States, based in Los Angeles, CA. 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 June 2023, Hear Now Music Festival reported income of $280k and spending of $227k, spending 81% of its income. Across the 2 years on record, from June 2022 to June 2023, income fell from $315k to $280k (-11%), an average of -11% a year. Over the whole period it spent 65% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hear Now Music Festival sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 63rd percentile within CA. Charities of a similar size with the same main cause include Chamber Music Monterey Bay ($280k), Festival City Symphony Inc ($280k) and Chapin Girls Dance Booster Club Inc ($280k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 2.0% of the total. Compensation of current officers, directors and key employees was $74k (32% of expenses). Other salaries and wages came to $8,500. At year end it held assets of $249k against liabilities of $0, net assets of $249k.