Levine Music Inc

Analysis

Levine Music Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in June 1976, 50 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Levine Music Inc reported income of $12.1m and spending of $11.1m, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $10.9m to $12.1m (+10%), an average of +2.5% a year. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Levine Music Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 89th percentile within DC. Charities of a similar size with the same main cause include Watttime Corporation ($12.1m), Goodspeed Opera House Foundation Inc ($12.1m) and Institute of Contemporary Art Miami Inc ($12.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $997k (9.0% of expenses). Other salaries and wages came to $5.7m. It paid $21k in professional fundraising fees. At year end it held assets of $20.1m against liabilities of $3.3m, net assets of $16.9m. It reported 331 employees.