Bandwith Music Ltd

Analysis

Bandwith Music Ltd is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in November 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 July 2023, Bandwith Music Ltd reported income of $568k and spending of $673k, spending 118% of what it took in. Across the 2 years on record, from July 2022 to July 2023, income fell from $1.5m to $568k (-61%), an average of -61% a year. The sharpest change came in the year to July 2023, when income dropped by 61%. Over the whole period it spent 49% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Bandwith Music Ltd 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 IL. Charities of a similar size with the same main cause include The Opera Company Inc ($568k), Musicalliance Inc ($568k) and The Center for Theatre Arts ($568k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 86% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $77k (11% of expenses). Other salaries and wages came to $43k. At year end it held assets of $2.4m against liabilities of $1.4m, net assets of $1.0m. It reported 2 employees.