Music for Wellness Inc

Analysis

Music for Wellness Inc is a registered charity in United States, based in Flushing, NY. It received its IRS tax-exemption ruling in October 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, Music for Wellness Inc reported income of $77k and spending of $58k, leaving 24% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $230k to $77k (-67%), an average of -67% a year. The sharpest change came in the year to December 2023, when income dropped by 67%. Over the whole period it spent 26% 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 for Wellness Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 30th percentile within NY. Charities of a similar size with the same main cause include Pennsylvania Yankee Theatre Company Inc ($77k), Aquatic Mammals ($77k) and Ellsworth County Historical Society ($77k).

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 $252k against liabilities of $0, net assets of $252k.