Sounds of Success Music

Analysis

Sounds of Success Music is a registered charity in United States, based in Riviera Beach, FL. It received its IRS tax-exemption ruling in July 2018, 8 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2022, Sounds of Success Music reported income of $66k and spending of $54k, spending 82% of its income. Across the 2 years on record, from December 2021 to December 2022, income fell from $67k to $66k (-2.0%), an average of -2.0% a year. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Sounds of Success Music sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 29th percentile within FL. Charities of a similar size with the same main cause include Women in Fellowship ($66k), Oakboro 4th of July Celebration Inc ($66k) and Bundle of Joy After School Academy LLC ($66k).

On its Form 990-EZ for the period ending December 2022, revenue came from contributions and grants 24% and program service revenue 35% of the total. At year end it held assets of $1 against liabilities of $0, net assets of $1.