Music USA Festivals Inc

Analysis

Music USA Festivals Inc is a registered charity in United States, based in Deland, FL. It received its IRS tax-exemption ruling in December 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 2022, Music USA Festivals Inc reported income of $3.3m and spending of $3.3m, spending 100% of its income. Across the 4 years on record, from December 2019 to December 2022, income fell from $4.8m to $3.3m (-31%), an average of -12% a year. The sharpest change came in the year to December 2022, when income rose by 947%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Music USA Festivals Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within FL. Charities of a similar size with the same main cause include Community Service Foundation ($3.3m), Bomi International 457 B Plan ($3.3m) and Jordan Health Systems Inc ($3.3m).

On its Form 990 for the period ending December 2022, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $16k (0.5% of expenses). Other salaries and wages came to $11k. At year end it held assets of $166k against liabilities of $86k, net assets of $80k. It reported 1 employees.