The Masterworks Choir Inc

Analysis

The Masterworks Choir Inc is a registered charity in United States, based in Florence, SC. It received its IRS tax-exemption ruling in December 1987, 39 years ago. 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, The Masterworks Choir Inc reported income of $234k and spending of $205k, spending 87% of its income. Across the 2 years on record, from June 2023 to June 2024, income fell from $291k to $234k (-20%), an average of -20% a year. The sharpest change came in the year to June 2024, when income dropped by 20%. Over the whole period it spent 109% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Masterworks Choir Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 62nd percentile within SC. Charities of a similar size with the same main cause include Richfield Soccer Association ($234k), Lake George Corporation ($234k) and Israel Benevolence Fund Inc ($234k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 26% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $18k (8.6% of expenses). Other salaries and wages came to $25k. At year end it held assets of $42k against liabilities of $0, net assets of $42k.