Catholic Music Initiative Inc

Analysis

Catholic Music Initiative Inc is a registered charity in United States, based in McKinney, TX. It received its IRS tax-exemption ruling in March 2020, 6 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Catholic Music Initiative Inc reported income of $315k and spending of $294k, spending 93% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $310k to $315k (+1.5%), an average of +0.7% a year. The sharpest change came in the year to December 2023, when income rose by 27%. Over the whole period it spent 96% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Catholic Music Initiative Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 67th percentile within TX. Charities of a similar size with the same main cause include Kolping Youth International ($315k), Ignite Missions Honduras Inc ($315k) and Lakeland Child Evangelism Ministries Inc ($315k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $80k (27% of expenses). It paid $14k in professional fundraising fees. At year end it held assets of $52k against liabilities of $0, net assets of $52k.