Austin Classical Guitar Society

Analysis

Austin Classical Guitar Society is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in September 1996, 30 years ago. 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 August 2023, Austin Classical Guitar Society reported income of $1.4m and spending of $1.5m, spending 110% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.2m to $1.4m (+17%), an average of +4.1% a year. The sharpest change came in the year to August 2022, when income dropped by 22%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Austin Classical Guitar Society sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 86th percentile within TX. Charities of a similar size with the same main cause include Camp Fire ($1.4m), Binghamton Boys Club Inc ($1.4m) and Historic Harmony Inc ($1.4m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 78% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $81k (5.3% of expenses). Other salaries and wages came to $713k. At year end it held assets of $853k against liabilities of $479k, net assets of $374k. It reported 18 employees.