Music Masters Collective Inc

Analysis

Music Masters Collective Inc is a registered charity in United States, based in Big Indian, NY. It received its IRS tax-exemption ruling in May 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 October 2023, Music Masters Collective Inc reported income of $1.8m and spending of $1.5m, spending 87% of its income. Across the 3 years on record, from December 2021 to October 2023, income fell from $1.9m to $1.8m (-6.2%), an average of -3.1% a year. The sharpest change came in the year to October 2023, when income rose by 36%. Over the whole period it spent 86% 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 Masters Collective Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include Arts District Los Angeles ($1.8m), Piedmont Choirs ($1.8m) and Atlantic White Shark Conservancy Inc ($1.8m).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 3.7% and program service revenue 96% of the total. At year end it held assets of $650k against liabilities of $4,984, net assets of $645k.