Groundwork Music Project Inc

Analysis

Groundwork Music Project Inc is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in January 2006, 20 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, Groundwork Music Project Inc reported income of $102k and spending of $86k, spending 84% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $105k to $102k (-2.7%), an average of -2.7% a year. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Groundwork Music Project Inc sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 40th percentile within TX. Charities of a similar size with the same main cause include Plains Trail Region of Texas Inc ($102k), Connexus Performing Arts Association Inc ($102k) and South Baldwin Museum Foundaton Inc ($102k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 32% and program service revenue 68% of the total. At year end it held assets of $2,764 against liabilities of $519, net assets of $2,245.