Sigal Music Museum

Analysis

Sigal Music Museum is a registered charity in United States, based in Greenville, SC. It received its IRS tax-exemption ruling in July 2017, 9 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 December 2023, Sigal Music Museum reported income of $968k and spending of $556k, leaving 43% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.4m to $968k (-60%), an average of -20% a year. The sharpest change came in the year to December 2023, when income rose by 337%. Over the whole period it spent 53% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Sigal Music Museum sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 82nd percentile within SC. Charities of a similar size with the same main cause include Community Arts Association in Newton County Inc ($968k), Congo Helping Hands Incorporated ($968k) and Korean Sports Association of New York Inc ($968k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $60k (11% of expenses). Other salaries and wages came to $107k. At year end it held assets of $2.2m against liabilities of $55k, net assets of $2.1m. It reported 7 employees.