Inone Music Ministries

Analysis

Inone Music Ministries is a registered charity in United States, based in Plano, TX. It received its IRS tax-exemption ruling in February 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 (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 2023, Inone Music Ministries reported income of $76k and spending of $77k, spending 101% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $109k to $76k (-30%), an average of -30% a year. The sharpest change came in the year to December 2023, when income dropped by 30%. Over the whole period it spent 63% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Inone Music Ministries sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 31st percentile within TX. Charities of a similar size with the same main cause include Chamber Music Houston Endowment ($76k), Glenwood Springs Summer of Music Inc ($76k) and Osgood Damm Theatre Inc ($76k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $172k against liabilities of $130k, net assets of $42k.