Kings Musician Inc

Analysis

Kings Musician Inc is a registered charity in United States, based in Beaumont, TX. It received its IRS tax-exemption ruling in December 1984, 42 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 July 2023, Kings Musician Inc reported income of $82k and spending of $100k, spending 122% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income grew from $70k to $82k (+18%), an average of +4.2% a year. The sharpest change came in the year to July 2021, when income rose by 35%. Over the whole period it spent 122% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Kings Musician Inc sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 33rd percentile within TX. Charities of a similar size with the same main cause include PTA California Congress of Parents Teachers & Students Inc ($82k), Dormont Athletic Boosters Association Inc ($82k) and New Philharmonic Orchestra of Irving Inc ($82k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $58k. At year end it held assets of $527k against liabilities of $1,099, net assets of $526k. It reported 1 employees.