Redtone Records

Analysis

Redtone Records is a registered charity in United States, based in E Palo Alto, CA. It received its IRS tax-exemption ruling in October 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Redtone Records reported income of $396k and spending of $463k, spending 117% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income grew from $154k to $396k (+157%), an average of +37% a year. The sharpest change came in the year to December 2021, when income rose by 96%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Redtone Records sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 68th percentile within CA. Charities of a similar size with the same main cause include Preserving Christian Publications Inc ($396k), Bourne Community TV Inc ($396k) and New York Mills Arts Retreat ($396k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 51% of the total. At year end it held assets of $53k against liabilities of $141k, net assets of -$88k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.