Texas Heritage Music Foundation Inc

Analysis

Texas Heritage Music Foundation Inc is a registered charity in United States, based in Fredericksbrg, TX. It received its IRS tax-exemption ruling in September 1988, 38 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 December 2023, Texas Heritage Music Foundation Inc reported income of $61k and spending of $67k, spending 110% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $77k to $61k (-20%), an average of -20% a year. The sharpest change came in the year to December 2023, when income dropped by 20%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Texas Heritage Music Foundation Inc sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 25th percentile within TX. Charities of a similar size with the same main cause include Janet Johnston Housenick and William D Housenick Memorial ($61k), General Federation of Womens Clubs ($61k) and Johnson City Schools Orchestra Guild ($61k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $50k against liabilities of $51k, net assets of -$1,152.