Music Coop

Analysis

Music Coop is a registered charity in United States, based in Excelsior, MN. It received its IRS tax-exemption ruling in April 2019, 7 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, Music Coop reported income of $223k and spending of $214k, spending 96% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $174k to $223k (+28%), an average of +28% a year. The sharpest change came in the year to December 2023, when income rose by 28%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Music Coop sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 55th percentile within MN. Charities of a similar size with the same main cause include Marlow Guitar International Incorporated ($223k), Sing for America Foundation ($223k) and West Virginia Museum of American Glass Ltd ($223k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.1% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $15k (6.9% of expenses). At year end it held assets of $41k against liabilities of $991, net assets of $40k. It reported 4 employees.