Friends of the Record Company Inc

Analysis

Friends of the Record Company Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in February 2020, 6 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 supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Friends of the Record Company Inc reported income of $665k and spending of $705k, spending 106% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $44k to $665k (+1400%), an average of +147% a year. The sharpest change came in the year to June 2021, when income rose by 2167%. 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, Friends of the Record Company Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within MA. Charities of a similar size with the same main cause include The Choir School of Delaware Inc ($665k), Citizens for Backus Ab ($665k) and Lake Wales Arts Council Inc ($665k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $8.6m against liabilities of $8.2m, net assets of $462k.