Welltone New Music Inc

Analysis

Welltone New Music Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 2003, 23 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, Welltone New Music Inc reported income of $67k and spending of $23k, leaving 65% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $19k to $67k (+248%), an average of +248% a year. The sharpest change came in the year to December 2023, when income rose by 248%. Over the whole period it spent 57% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Welltone New Music Inc sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 27th percentile within NY. Charities of a similar size with the same main cause include Community Arts Foundation ($67k), East Coast Showdown Inc ($67k) and Carolina Strawberry Festival Inc ($67k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $56k against liabilities of $0, net assets of $56k.