Asbury Park African-American Music Project Inc

Analysis

Asbury Park African-American Music Project Inc is a registered charity in United States, based in Asbury Park, NJ. It received its IRS tax-exemption ruling in November 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, Asbury Park African-American Music Project Inc reported income of $263k and spending of $52k, leaving 80% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $91k to $263k (+189%), an average of +189% a year. The sharpest change came in the year to December 2023, when income rose by 189%. Over the whole period it spent 23% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Asbury Park African-American Music Project Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 66th percentile within NJ. Charities of a similar size with the same main cause include Global Arts Performing Center Inc ($263k), Norman Music Alliance Inc ($263k) and Sculpture Trails Inc ($263k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 0.9% of the total. At year end it held assets of $369k against liabilities of $70k, net assets of $299k.