Free Guitars 4 Kids

Analysis

Free Guitars 4 Kids is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in June 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 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, Free Guitars 4 Kids reported income of $369k and spending of $290k, leaving 21% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $204k to $369k (+81%), an average of +81% a year. The sharpest change came in the year to December 2023, when income rose by 81%. 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, Free Guitars 4 Kids sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 64th percentile within MN. Charities of a similar size with the same main cause include Pushcart Players Inc ($369k), Borderlands Theater Teatro Fronterizo Inc ($369k) and Friends of the March of the Livng Inc ($369k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $112k (39% of expenses). It paid $5,713 in professional fundraising fees. At year end it held assets of $134k against liabilities of -$3,103, net assets of $137k. It reported 1 employees.