Poss Music Works NFP

Analysis

Poss Music Works NFP is a registered charity in United States, based in Effingham, IL. It received its IRS tax-exemption ruling in March 2018, 8 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 2024, Poss Music Works NFP reported income of $234k and spending of $232k, spending 99% of its income. Across the 2 years on record, from June 2023 to June 2024, income grew from $194k to $234k (+20%), an average of +20% a year. The sharpest change came in the year to June 2024, when income rose by 20%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Poss Music Works NFP sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 57th percentile within IL. Charities of a similar size with the same main cause include Samuel Lawrence Foundation ($234k), Manor Club ($234k) and Skagit Opera ($234k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.5% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $15k (6.4% of expenses). At year end it held assets of $29k against liabilities of $0, net assets of $29k.