Friends of Chamber Music of Miami Inc

Analysis

Friends of Chamber Music of Miami Inc is a registered charity in United States, based in Coral Gables, FL. It received its IRS tax-exemption ruling in April 1956, 70 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 2023, Friends of Chamber Music of Miami Inc reported income of $102k and spending of $118k, spending 115% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $172k to $102k (-41%), an average of -16% a year. The sharpest change came in the year to June 2022, when income rose by 72%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of Chamber Music of Miami Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 41st percentile within FL. Charities of a similar size with the same main cause include Tri-State Railway Historical Society Inc ($102k), New Life Ministries Inc ($102k) and Lansdale Historical Society ($102k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 80% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $26k (22% of expenses). At year end it held assets of $7,897 against liabilities of $0, net assets of $7,897.