VM Music Company Inc

Analysis

VM Music Company Inc is a registered charity in United States, based in Coppell, TX. It received its IRS tax-exemption ruling in May 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, VM Music Company Inc reported income of $457k and spending of $246k, leaving 46% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $511k to $457k (-10%), an average of -10% a year. Over the whole period it spent 34% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, VM Music Company Inc 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 73rd percentile within TX. Charities of a similar size with the same main cause include Blue and Gray Education Society ($457k), Raise the Roof for the Arts ($458k) and Old Town Cape Inc ($457k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 84% of the total. At year end it held assets of $656k against liabilities of $2,392, net assets of $654k.