Musicambia Inc

Analysis

Musicambia Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in May 2015, 11 years ago. 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, Musicambia Inc reported income of $206k and spending of $207k, spending 100% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $126k to $206k (+64%), an average of +64% a year. The sharpest change came in the year to June 2023, when income rose by 64%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Musicambia Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 52nd percentile within NY. Charities of a similar size with the same main cause include Friends of the Lewinsville Inc ($206k), Friendship Fire Co No 1 of Butler TWP ($206k) and Ripon Quarterback Club Inc ($206k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 3.1% of the total. Compensation of current officers, directors and key employees was $52k (25% of expenses). Other salaries and wages came to $30k. At year end it held assets of $84k against liabilities of $0, net assets of $84k. It reported 3 employees.