Music Carolina

Analysis

Music Carolina is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in January 1986, 40 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 June 2024, Music Carolina reported income of $50k and spending of $39k, leaving 23% of income unspent that year. Across the 2 years on record, from June 2023 to June 2024, income grew from $38k to $50k (+33%), an average of +33% a year. The sharpest change came in the year to June 2024, when income rose by 33%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Music Carolina sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 18th percentile within NC. Charities of a similar size with the same main cause include Jackson County Community Theatre Inc ($50k), Tecumseh Youth Theatre ($50k) and Peoples Portfolio Inc ($50k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 72% and program service revenue 28% of the total. At year end it held assets of $44k against liabilities of $0, net assets of $44k.