Boston Music Project Inc

Analysis

Boston Music Project Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in June 2016, 10 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, Boston Music Project Inc reported income of $1.7m and spending of $1.4m, spending 82% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $450k to $1.7m (+267%), an average of +38% a year. The sharpest change came in the year to June 2022, when income rose by 134%. 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, Boston Music Project Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within MA. Charities of a similar size with the same main cause include Native American Community Development Institute ($1.7m), Fantasy Playhouse Childrens Theater ($1.7m) and Four Rivers Community Broadcasting Corporation ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 42% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $91k (6.7% of expenses). Other salaries and wages came to $797k. At year end it held assets of $749k against liabilities of $122k, net assets of $626k. It reported 65 employees.