Panama City Music Association Inc

Analysis

Panama City Music Association Inc is a registered charity in United States, based in Panama City, FL. It received its IRS tax-exemption ruling in April 1982, 44 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 May 2024, Panama City Music Association Inc reported income of $162k and spending of $147k, spending 91% of its income. Across the 5 years on record, from May 2020 to May 2024, income grew from $97k to $162k (+68%), an average of +14% a year. The sharpest change came in the year to May 2022, when income rose by 388%. Over the whole period it spent 80% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Panama City Music Association Inc sits at the 55th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 53rd percentile within FL. Charities of a similar size with the same main cause include Historical Society Inc ($162k), Kansas City Raindrop Foundation ($162k) and Belmont Chapel Foundation ($162k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 49% and program service revenue 29% of the total. At year end it held assets of $527k against liabilities of $0, net assets of $527k.