Moravian Music Foundation Inc

Analysis

Moravian Music Foundation Inc is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in October 1959, 67 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 2022, Moravian Music Foundation Inc reported income of $394k and spending of $754k, spending 192% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $387k to $394k (+1.8%), an average of +0.6% a year. The sharpest change came in the year to December 2021, when income rose by 54%. Over the whole period it spent 165% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Moravian Music Foundation Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within NC. Charities of a similar size with the same main cause include Central Current Inc ($394k), Rivertown Dance Academy ($394k) and Campus Communications Inc ($394k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 69% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $106k (14% of expenses). Other salaries and wages came to $288k. At year end it held assets of $2.9m against liabilities of $348k, net assets of $2.6m. It reported 11 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.