Young Musicians of Alamance

Analysis

Young Musicians of Alamance is a registered charity in United States, based in Burlington, NC. It received its IRS tax-exemption ruling in March 2016, 10 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Young Musicians of Alamance reported income of $104k and spending of $176k, spending 168% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income grew from $80k to $104k (+31%), an average of +31% a year. The sharpest change came in the year to June 2023, when income rose by 31%. Over the whole period it spent 131% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Young Musicians of Alamance sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 36th percentile within NC. Charities of a similar size with the same main cause include Associated Irish Societies Inc ($104k), Warroad Summer Theater Company ($104k) and Leo Strauss Foundation ($104k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.7% of the total. At year end it held assets of $81k against liabilities of $52k, net assets of $29k.