Foundation for the Advancement of Music & Education Inc

Analysis

Foundation for the Advancement of Music & Education Inc is a registered charity in United States, based in Upper Marlboro, MD. It received its IRS tax-exemption ruling in May 2007, 19 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Foundation for the Advancement of Music & Education Inc reported income of $766k and spending of $661k, spending 86% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $520k to $766k (+47%), an average of +8.1% a year. The sharpest change came in the year to December 2023, when income rose by 30%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Foundation for the Advancement of Music & Education Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within MD. Charities of a similar size with the same main cause include St Louis Blues Alumni Association ($766k), Sages Education and Research Foundation ($766k) and Shelton State Community College Foundation Inc ($766k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 7.1% of the total. Compensation of current officers, directors and key employees was $143k (22% of expenses). Other salaries and wages came to $42k. At year end it held assets of $202k against liabilities of $7,457, net assets of $195k. It reported 11 employees.