Twin Cities Catalyst Music Inc

Analysis

Twin Cities Catalyst Music Inc is a registered charity in United States, based in Burnsville, MN. It received its IRS tax-exemption ruling in April 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 December 2023, Twin Cities Catalyst Music Inc reported income of $299k and spending of $412k, spending 138% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $369k to $299k (-19%), an average of -5.1% a year. The sharpest change came in the year to December 2021, when income rose by 29%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Twin Cities Catalyst Music Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 60th percentile within MN. Charities of a similar size with the same main cause include Freedom Archives ($299k), Spark Photonics Foundation Inc ($299k) and Weston Community Association Inc ($299k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $46k (11% of expenses). Other salaries and wages came to $220k. It paid $13k in professional fundraising fees. At year end it held assets of $145k against liabilities of $14k, net assets of $131k. It reported 58 employees.