Project Music Inc

Analysis

Project Music Inc is a registered charity in United States, based in Stamford, CT. It received its IRS tax-exemption ruling in December 2016, 10 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Project Music Inc reported income of $303k and spending of $277k, spending 92% of its income. Across the 5 years on record, from July 2019 to June 2023, income grew from $231k to $303k (+31%), an average of +7.0% a year. The sharpest change came in the year to June 2021, when income rose by 29%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Project Music Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 59th percentile within CT. Charities of a similar size with the same main cause include In Full Motion Inc ($303k), School District of Raytown Ed Found ($303k) and Conklin Foundation Inc ($303k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 4.9% of the total. Compensation of current officers, directors and key employees was $100k (36% of expenses). Other salaries and wages came to $86k. At year end it held assets of $179k against liabilities of $53k, net assets of $126k. It reported 13 employees.