Benning Academy of Music Foundation

Analysis

Benning Academy of Music Foundation is a registered charity in United States, based in Sherman Oaks, 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Benning Academy of Music Foundation reported income of $95k and spending of $104k, spending 109% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $44k to $95k (+114%), an average of +114% a year. The sharpest change came in the year to December 2023, when income rose by 114%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Benning Academy of Music Foundation sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 38th percentile within CA. Charities of a similar size with the same main cause include Pumphouse Players Inc ($95k), Archer Band Booster Association ($95k) and Center for Music by People with Disabilities ($95k).

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 $16k against liabilities of $0, net assets of $16k.