Tacoma Music Academy

Analysis

Tacoma Music Academy is a registered charity in United States, based in Tacoma, WA. 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 December 2023, Tacoma Music Academy reported income of $110k and spending of $127k, spending 116% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $71k to $110k (+54%), an average of +54% a year. The sharpest change came in the year to December 2023, when income rose by 54%. Over the whole period it spent 109% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Tacoma Music Academy sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 35th percentile within WA. Charities of a similar size with the same main cause include Cne Band Boosters Inc ($110k), Narrows Community Theatre Inc ($110k) and Masterworks Choral Ensemble ($110k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 27% and program service revenue 73% of the total. At year end it held assets of $11k against liabilities of $1,898, net assets of $9,408.