Muscle Shoals Songwriters Foundation

Analysis

Muscle Shoals Songwriters Foundation is a registered charity in United States, based in Sheffield, AL. It received its IRS tax-exemption ruling in May 2021, 5 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, Muscle Shoals Songwriters Foundation reported income of $137k and spending of $175k, spending 127% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $98k to $137k (+40%), an average of +40% a year. The sharpest change came in the year to December 2023, when income rose by 40%. Over the whole period it spent 123% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Muscle Shoals Songwriters Foundation sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 45th percentile within AL. Charities of a similar size with the same main cause include Togo Community Organization of Oregon ($137k), Florida Chamber Music Project Inc ($137k) and Dominquez Archaeological Research Group Inc ($137k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 17% of the total. At year end it held assets of $25k against liabilities of $56k, net assets of -$31k.