Summer Musical Enterprise

Analysis

Summer Musical Enterprise is a registered charity in United States, based in Blacksburg, VA. It received its IRS tax-exemption ruling in July 1994, 32 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 2022, Summer Musical Enterprise reported income of $51k and spending of $39k, leaving 24% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $48k to $51k (+5.9%), an average of +1.9% a year. The sharpest change came in the year to December 2021, when income rose by 749%. Over the whole period it spent 107% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Summer Musical Enterprise sits at the 23rd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 19th percentile within VA. Charities of a similar size with the same main cause include Standing Ovation Theatre Academy Inc ($51k), Borough of Sewickley Heights History Center Inc ($51k) and Art to Change the World ($51k).

On its Form 990-EZ for the period ending December 2022, revenue came from contributions and grants 9.4% and program service revenue 91% of the total. At year end it held assets of $37k against liabilities of $0, net assets of $37k.