Groupmuse Foundation Inc

Analysis

Groupmuse Foundation Inc is a registered charity in United States, based in New York, NY. 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, Groupmuse Foundation Inc reported income of $164k and spending of $123k, leaving 25% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $68k to $164k (+141%), an average of +141% a year. The sharpest change came in the year to December 2023, when income rose by 141%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Groupmuse Foundation Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 47th percentile within NY. Charities of a similar size with the same main cause include Centralia Cultural Society ($164k), Ensemble Altera ($164k) and Joshuas Stage ($164k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $50k against liabilities of $571, net assets of $49k.