Kentucky Music Educators Assn Inc

Analysis

Kentucky Music Educators Assn Inc is a registered charity in United States, based in Richmond, KY. It received its IRS tax-exemption ruling in May 1974, 52 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 2023, Kentucky Music Educators Assn Inc reported income of $1.2m and spending of $1.2m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.2m to $1.2m (-1.4%), an average of -0.4% a year. The sharpest change came in the year to June 2022, when income rose by 245%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Kentucky Music Educators Assn Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within KY. Charities of a similar size with the same main cause include Ukrainian Institute of America Inc ($1.2m), Red Hen Press Inc ($1.2m) and Society for Asian Art ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 89% of the total. Compensation of current officers, directors and key employees was $132k (11% of expenses). Other salaries and wages came to $193k. At year end it held assets of $1.1m against liabilities of $10k, net assets of $1.1m. It reported 23 employees.