Renovare Music Inc

Analysis

Renovare Music Inc is a registered charity in United States, based in Shaker HTS, OH. 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, Renovare Music Inc reported income of $174k and spending of $149k, spending 85% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $135k to $174k (+29%), an average of +29% a year. The sharpest change came in the year to December 2023, when income rose by 29%. Over the whole period it spent 77% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Renovare Music Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 51st percentile within OH. Charities of a similar size with the same main cause include Ligonier Valley Historical Society ($174k), Carousel Dance Company ($174k) and Noorani Dance ($174k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 6.9% of the total. Compensation of current officers, directors and key employees was $36k (24% of expenses). Other salaries and wages came to $71k. At year end it held assets of $128k against liabilities of $2,051, net assets of $126k. It reported 4 employees.