The Iris Music Project

Analysis

The Iris Music Project is a registered charity in United States, based in Columbia, MD. It received its IRS tax-exemption ruling in December 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, The Iris Music Project reported income of $462k and spending of $335k, leaving 28% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $261k to $462k (+77%), an average of +77% a year. The sharpest change came in the year to December 2023, when income rose by 77%. Over the whole period it spent 76% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Iris Music Project sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 68th percentile within MD. Charities of a similar size with the same main cause include Phoenix Chamber Music Society ($462k), Frederic Remington Art Museum ($462k) and The Sanibel Historical Museum and Village Inc ($462k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 36% of the total. Other salaries and wages came to $197k. It paid $10k in professional fundraising fees. At year end it held assets of $144k against liabilities of $0, net assets of $144k.