Garth Newel Music Center Foundation Corp

Analysis

Garth Newel Music Center Foundation Corp is a registered charity in United States, based in Warm Springs, VA. It received its IRS tax-exemption ruling in August 1991, 35 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 December 2023, Garth Newel Music Center Foundation Corp reported income of $3.3m and spending of $1.8m, leaving 46% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $3.3m (+79%), an average of +16% a year. The sharpest change came in the year to December 2020, when income rose by 146%. Over the whole period it spent 46% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Garth Newel Music Center Foundation Corp sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within VA. Charities of a similar size with the same main cause include Laguna Art Museum ($3.3m), Evergreen Aviation and Space Museum and the Captain Michael King Smith ($3.3m) and Whitaker Center for Science and the Arts ($3.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $79k (4.4% of expenses). Other salaries and wages came to $711k. At year end it held assets of $12.6m against liabilities of $25k, net assets of $12.6m. It reported 47 employees.