Musicalliance Inc

Analysis

Musicalliance Inc is a registered charity in United States, based in Mentor, OH. It received its IRS tax-exemption ruling in January 2006, 20 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, Musicalliance Inc reported income of $568k and spending of $506k, spending 89% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $701k to $568k (-19%), an average of -5.1% a year. The sharpest change came in the year to June 2022, when income rose by 89%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Musicalliance Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within OH. Charities of a similar size with the same main cause include Bandwith Music Ltd ($568k), Richmond Symphony Orchestra Association ($568k) and The Opera Company Inc ($568k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.3% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $145k (29% of expenses). Other salaries and wages came to $244k. At year end it held assets of $338k against liabilities of $72k, net assets of $267k. It reported 12 employees.