Five Points Music Foundation

Analysis

Five Points Music Foundation is a registered charity in United States, based in Roanoke, VA. It received its IRS tax-exemption ruling in November 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 December 2023, Five Points Music Foundation reported income of $769k and spending of $721k, spending 94% of its income. Across the 4 years on record, from December 2019 to December 2023, income grew from $387k to $769k (+99%), an average of +26% a year. The sharpest change came in the year to December 2021, when income rose by 75%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Five Points Music Foundation sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within VA. Charities of a similar size with the same main cause include Bay Area Music Project ($769k), Foundation for Rational Economics and Education Inc ($769k) and Oklahoma Watch Inc ($769k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 19% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $45k (6.3% of expenses). At year end it held assets of $192k against liabilities of $26k, net assets of $166k.