Musiconnects Inc

Analysis

Musiconnects Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in December 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 June 2023, Musiconnects Inc reported income of $308k and spending of $288k, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $278k to $308k (+11%), an average of +2.6% a year. The sharpest change came in the year to June 2021, when income rose by 19%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Musiconnects Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 64th percentile within MA. Charities of a similar size with the same main cause include Arborlea Study Center Inc ($308k), Phoenix Theatre Ensemble Inc ($308k) and Foundation for Constitutional Government Inc ($308k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $58k (20% of expenses). Other salaries and wages came to $135k. At year end it held assets of $240k against liabilities of $23k, net assets of $217k. It reported 7 employees.