Friends of Music Inc

Analysis

Friends of Music Inc is a registered charity in United States, based in Shepherdstown, WV. It received its IRS tax-exemption ruling in February 2001, 25 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 organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Friends of Music Inc reported income of $137k and spending of $116k, spending 84% of its income. Across the 2 years on record, from June 2023 to June 2024, income grew from $125k to $137k (+10.0%), an average of +10% a year. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of Music Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 42nd percentile within WV. Charities of a similar size with the same main cause include Afronomicslaw NFP ($137k), Taconic Opera Inc ($137k) and Plymouth Civic League Inc ($137k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 65% of the total. At year end it held assets of $90k against liabilities of $0, net assets of $90k.