Project Music Heals US Inc

Analysis

Project Music Heals US Inc is a registered charity in United States, based in Guilford, CT. 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Project Music Heals US Inc reported income of $169k and spending of $243k, spending 144% of what it took in. Across the 3 years on record, from June 2021 to June 2023, income fell from $311k to $169k (-46%), an average of -26% a year. The sharpest change came in the year to June 2023, when income dropped by 51%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Project Music Heals US Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 47th percentile within CT. Charities of a similar size with the same main cause include Webster City Community Theatre ($169k), Lucille Tack Center for the Arts Inc ($169k) and North Fort Worth Historical Society ($169k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 77% and program service revenue 20% of the total. Other salaries and wages came to $40k. At year end it held assets of $283k against liabilities of $0, net assets of $283k. It reported 1 employees.