Latino Music Education Network

Analysis

Latino Music Education Network is a registered charity in United States, based in Menlo Park, CA. 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 June 2023, Latino Music Education Network reported income of $395k and spending of $434k, spending 110% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income grew from $253k to $395k (+56%), an average of +56% a year. The sharpest change came in the year to June 2023, when income rose by 56%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Latino Music Education Network sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 68th percentile within CA. Charities of a similar size with the same main cause include Wisconsin Agricultural Education Center Inc ($395k), Lowell Makes ($395k) and Pua Foundation ($395k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 80% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $38k (8.7% of expenses). Other salaries and wages came to $57k. It paid $62k in professional fundraising fees. At year end it held assets of $123k against liabilities of $24k, net assets of $98k. It reported 1 employees.