Fred T Foard Music Boosters Inc

Analysis

Fred T Foard Music Boosters Inc is a registered charity in United States, based in Newton, NC. It received its IRS tax-exemption ruling in May 2018, 8 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2024, Fred T Foard Music Boosters Inc reported income of $58k and spending of $69k, spending 118% of what it took in. Across the 2 years on record, from May 2023 to May 2024, income fell from $138k to $58k (-58%), an average of -58% a year. The sharpest change came in the year to May 2024, when income dropped by 58%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fred T Foard Music Boosters Inc sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 21st percentile within NC. Charities of a similar size with the same main cause include Levydance Inc ($58k), Halau O Aulani Inc ($58k) and Indian Creek Band Boosters Inc ($58k).

On its Form 990-EZ for the period ending May 2024, revenue came from contributions and grants 14% of the total. At year end it held assets of $13k against liabilities of $0, net assets of $13k.