Carter Family Memorial Music Center Inc

Analysis

Carter Family Memorial Music Center Inc is a registered charity in United States, based in Hiltons, VA. It received its IRS tax-exemption ruling in July 1980, 46 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, Carter Family Memorial Music Center Inc reported income of $130k and spending of $130k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $162k to $130k (-20%), an average of -5.4% a year. The sharpest change came in the year to December 2022, when income rose by 117%. 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, Carter Family Memorial Music Center Inc sits at the 49th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 43rd percentile within VA. Charities of a similar size with the same main cause include Future Generations of Saint Lucie County ($130k), The Chapel Restoration Inc ($130k) and Palestine Community Theatre Inc ($130k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.9% and program service revenue 97% of the total. At year end it held assets of $703k against liabilities of $8,235, net assets of $695k.