Institute of Musical Traditions Inc

Analysis

Institute of Musical Traditions Inc is a registered charity in United States, based in Silver Spring, MD. It received its IRS tax-exemption ruling in August 2014, 12 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, Institute of Musical Traditions Inc reported income of $87k and spending of $77k, spending 89% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $61k to $87k (+43%), an average of +43% a year. The sharpest change came in the year to December 2023, when income rose by 43%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Institute of Musical Traditions Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 35th percentile within MD. Charities of a similar size with the same main cause include Disability in Uinta County ($87k), Athens Storytelling Festival Inc ($87k) and McCulloch County Historical Theater Society ($87k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 39% and program service revenue 56% of the total. At year end it held assets of $115k against liabilities of $1,918, net assets of $113k.