Rhythm Foundation Inc

Analysis

Rhythm Foundation Inc is a registered charity in United States, based in Miami Beach, FL. It received its IRS tax-exemption ruling in August 1990, 36 years ago. 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 September 2023, Rhythm Foundation Inc reported income of $3.1m and spending of $2.9m, spending 93% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.4m to $3.1m (+129%), an average of +23% a year. The sharpest change came in the year to September 2022, when income rose by 110%. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Rhythm Foundation Inc sits at the 89th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within FL. Charities of a similar size with the same main cause include Omohundro Institute of Early American History and Culture ($3.1m), Lagrange Park Center Inc ($3.1m) and Lansing Housing Corporation ($3.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 37% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $89k (3.1% of expenses). Other salaries and wages came to $338k. At year end it held assets of $1.7m against liabilities of $637k, net assets of $1.0m. It reported 34 employees.