Candelas Music and Arts Foundation

Analysis

Candelas Music and Arts Foundation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in June 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 June 2024, Candelas Music and Arts Foundation reported income of $90k and spending of $61k, leaving 33% of income unspent that year. Across the 2 years on record, from June 2023 to June 2024, income grew from $73k to $90k (+23%), an average of +23% a year. The sharpest change came in the year to June 2024, when income rose by 23%. Over the whole period it spent 66% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Candelas Music and Arts Foundation sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 36th percentile within CA. Charities of a similar size with the same main cause include Korean National Association Memorial Foundation ($90k), Artists Coalition of Flagstaff Inc ($90k) and Friends of City Reliquaryincorporated ($90k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 92% and program service revenue 8.0% of the total. At year end it held assets of $80k against liabilities of $0, net assets of $80k.