Gift of Music Foundation Inc

Analysis

Gift of Music Foundation Inc is a registered charity in United States, based in Marietta, GA. It received its IRS tax-exemption ruling in March 2015, 11 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Gift of Music Foundation Inc reported income of $931k and spending of $987k, spending 106% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $251k to $931k (+271%), an average of +55% a year. The sharpest change came in the year to December 2022, when income rose by 103%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Gift of Music Foundation Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 82nd percentile within GA. Charities of a similar size with the same main cause include Philomath Community Services Inc ($931k), Religious Coalition to Assist the Homeless ($931k) and Safe Harbor Crisis Nursery ($931k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $52k (5.3% of expenses). Other salaries and wages came to $322k. At year end it held assets of $486k against liabilities of $503k, net assets of -$17k. It reported 12 employees.