Prelude Music Foundation

Analysis

Prelude Music Foundation is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in November 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, Prelude Music Foundation reported income of $525k and spending of $453k, spending 86% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $202k to $525k (+160%), an average of +61% a year. The sharpest change came in the year to June 2023, when income rose by 81%. Over the whole period it spent 86% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Prelude Music Foundation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 75th percentile within TX. Charities of a similar size with the same main cause include Museum of Dinosaurs and Ancient Cultures Inc ($525k), Six Square - Austins Black Cultural District ($525k) and Center for Maximum Potential Building Systems Inc ($524k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 78% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $77k (17% of expenses). Other salaries and wages came to $210k. At year end it held assets of $220k against liabilities of $0, net assets of $220k. It reported 14 employees.