Triangle Youth Music Inc

Analysis

Triangle Youth Music Inc is a registered charity in United States, based in Cary, NC. It received its IRS tax-exemption ruling in March 1989, 37 years ago. 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 June 2024, Triangle Youth Music Inc reported income of $604k and spending of $564k, spending 93% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $327k to $604k (+84%), an average of +13% a year. The sharpest change came in the year to June 2022, when income rose by 45%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Triangle Youth Music Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within NC. Charities of a similar size with the same main cause include Ho-Ho-Kus-Waldwick Cooperative Nursery School ($604k), American Climate Partners ($604k) and Dallas RHF Housing Inc ($604k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 79% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $77k (14% of expenses). Other salaries and wages came to $203k. At year end it held assets of $516k against liabilities of $58k, net assets of $458k. It reported 19 employees.