The Masterworks Chorus of the Palm Beaches Inc

Analysis

The Masterworks Chorus of the Palm Beaches Inc is a registered charity in United States, based in Palm Beach, FL. It received its IRS tax-exemption ruling in April 2015, 11 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 June 2024, The Masterworks Chorus of the Palm Beaches Inc reported income of $65k and spending of $60k, spending 92% of its income. Across the 3 years on record, from June 2022 to June 2024, income grew from $24k to $65k (+173%), an average of +65% a year. The sharpest change came in the year to June 2023, when income rose by 98%. Over the whole period it spent 105% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Masterworks Chorus of the Palm Beaches 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 29th percentile within FL. Charities of a similar size with the same main cause include Star Arts Education ($65k), Jameson Singers Inc ($65k) and Gaston County Museum of Art & History ($65k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 53% and program service revenue 35% of the total. At year end it held assets of $26k against liabilities of $0, net assets of $26k.