Picco Music Academy Inc

Analysis

Picco Music Academy Inc is a registered charity in United States, based in Redlands, CA. It received its IRS tax-exemption ruling in June 2017, 9 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, Picco Music Academy Inc reported income of $91k and spending of $82k, spending 90% of its income. Across the 4 years on record, from December 2020 to December 2023, income fell from $95k to $91k (-3.6%), an average of -1.2% a year. The sharpest change came in the year to December 2023, when income rose by 24%. 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, Picco Music Academy Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 37th percentile within CA. Charities of a similar size with the same main cause include Bay Area K Group ($91k), Veterans History Museum of the Carolinas ($91k) and Ojai Pottery and Clay School ($91k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.7% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $12k (15% of expenses). At year end it held assets of $17k against liabilities of $424, net assets of $17k. It reported 1 employees.