Miami Salon Group Inc

Analysis

Miami Salon Group Inc is a registered charity in United States, based in Miami Shores, FL. It received its IRS tax-exemption ruling in April 1988, 38 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 December 2023, Miami Salon Group Inc reported income of $54k and spending of $62k, spending 116% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $69k to $54k (-22%), an average of -22% a year. The sharpest change came in the year to December 2023, when income dropped by 22%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Miami Salon Group Inc sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 24th percentile within FL. Charities of a similar size with the same main cause include Haven of Northern Virginia Inc ($54k), Sertoma Inc ($54k) and U R S Club Inc ($54k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 42% of the total. At year end it held assets of $32k against liabilities of $0, net assets of $32k.