Overtone Industries

Analysis

Overtone Industries is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in March 1985, 41 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Overtone Industries reported income of $164k and spending of $172k, spending 105% of what it took in. Across the 2 years on record, from June 2023 to June 2024, income fell from $295k to $164k (-45%), an average of -45% a year. The sharpest change came in the year to June 2024, when income dropped by 45%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Overtone Industries sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 51st percentile within CA. Charities of a similar size with the same main cause include Awakening Minds ($164k), Santa Rosa Band of Lower Muscogee Inc ($164k) and Friends of Hopital Albert Schweitzer Haiti Inc ($163k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 70% and program service revenue 30% of the total. Other salaries and wages came to $66k. At year end it held assets of $20k against liabilities of $0, net assets of $20k.