Foundation for Modern Music Inc

Analysis

Foundation for Modern Music Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in September 1986, 40 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, Foundation for Modern Music Inc reported income of $138k and spending of $142k, spending 103% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $81k to $138k (+71%), an average of +71% a year. The sharpest change came in the year to December 2023, when income rose by 71%. Over the whole period it spent 110% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Foundation for Modern Music Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 49th percentile within TX. Charities of a similar size with the same main cause include PTA New Jersey Congress of Parents & Teachers ($138k), Buchholz Band Boosters Inc ($138k) and Little League Baseball Inc ($138k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 9.6% of the total. At year end it held assets of $37k against liabilities of $0, net assets of $37k.