Texas Country Music Hall of Fame

Analysis

Texas Country Music Hall of Fame is a registered charity in United States, based in Carthage, TX. It received its IRS tax-exemption ruling in September 1998, 28 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 December 2023, Texas Country Music Hall of Fame reported income of $107k and spending of $121k, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $59k to $107k (+83%), an average of +16% a year. The sharpest change came in the year to December 2022, when income rose by 85%. Over the whole period it spent 118% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Texas Country Music Hall of Fame sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 42nd percentile within TX. Charities of a similar size with the same main cause include Yesod Yosef Inc ($107k), Bharat Swabhiman Overseas Inc ($107k) and Rize Program ($107k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 17% of the total. Other salaries and wages came to $63k. At year end it held assets of $215k against liabilities of $1,241, net assets of $213k. It reported 3 employees.