Young Musicians of Virginia

Analysis

Young Musicians of Virginia is a registered charity in United States, based in Virginia BCH, VA. It received its IRS tax-exemption ruling in August 2001, 25 years ago. Its declared purposes cover education, which this site groups under education and training. 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 May 2024, Young Musicians of Virginia reported income of $304k and spending of $300k, spending 99% of its income. Across the 5 years on record, from May 2020 to May 2024, income grew from $289k to $304k (+5.0%), an average of +1.2% a year. The sharpest change came in the year to May 2023, when income rose by 16%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Young Musicians of Virginia sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 61st percentile within VA. Charities of a similar size with the same main cause include Edison High School Football Booster Club ($304k), Tupper Lake Public Library ($304k) and Azalea City Christian School and Child Development Center ($304k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 3.9% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $14k (4.5% of expenses). Other salaries and wages came to $44k. At year end it held assets of $68k against liabilities of $22k, net assets of $46k. It reported 8 employees.