Heart of Music Festival Inc

Analysis

Heart of Music Festival Inc is a registered charity in United States, based in East Aurora, NY. It received its IRS tax-exemption ruling in January 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Heart of Music Festival Inc reported income of $127k and spending of $125k, spending 99% of its income. Across the 3 years on record, from December 2019 to December 2023, income fell from $257k to $127k (-51%), an average of -30% a year. The sharpest change came in the year to December 2023, when income rose by 3450%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Heart of Music Festival Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 42nd percentile within NY. Charities of a similar size with the same main cause include Ibma Foundation Inc ($127k), Safe House for the Performing Arts ($127k) and Melanie Kirk Stauffers Dance Theatre Northwest ($127k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 199% of the total. At year end it held assets of $109k against liabilities of $0, net assets of $109k.