Bahamas Music Foundation USA Inc

Analysis

Bahamas Music Foundation USA Inc is a registered charity in United States, based in Windermere, FL. It received its IRS tax-exemption ruling in February 2018, 8 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 December 2022, Bahamas Music Foundation USA Inc reported income of $137k and spending of $1.6m, spending 1176% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $6.2m to $137k (-98%), an average of -72% a year. The sharpest change came in the year to December 2022, when income dropped by 80%. Over the whole period it spent 60% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Bahamas Music Foundation USA Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 49th percentile within FL. Charities of a similar size with the same main cause include Beyond Diversity Resource Center Inc ($137k), Shelby County Schools Education Foundation ($137k) and South Suburban Conference ($137k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 49% of the total. At year end it held assets of $4.2m against liabilities of $0, net assets of $4.2m.