Brevard Music Center Incorporated

Analysis

Brevard Music Center Incorporated is a registered charity in United States, based in Brevard, NC. It received its IRS tax-exemption ruling in August 1949, 77 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Brevard Music Center Incorporated reported income of $12.5m and spending of $9.2m, leaving 26% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $9.9m to $12.5m (+26%), an average of +6.0% a year. The sharpest change came in the year to December 2021, when income rose by 81%. Over the whole period it spent 68% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Brevard Music Center Incorporated sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NC. Charities of a similar size with the same main cause include Tikvah-Etta & Lazear Israel Center for the Developmentally Disabled ($12.5m), Puerto Rican Cultural Center ($12.5m) and National Childrens Cancer Society Inc ($12.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $838k (9.1% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $67.4m against liabilities of $5.4m, net assets of $62.0m. It reported 268 employees.