Black Music Entrepreneurship Incubator

Analysis

Black Music Entrepreneurship Incubator is a registered charity in United States, based in Oakland, CA. It received its IRS tax-exemption ruling in March 2021, 5 years ago. 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, Black Music Entrepreneurship Incubator reported income of $743k and spending of $468k, leaving 37% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $760k to $743k (-2.3%), an average of -2.3% a year. Over the whole period it spent 61% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Black Music Entrepreneurship Incubator sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 77th percentile within CA. Charities of a similar size with the same main cause include Port City Enterprises Inc ($742k), Foundation of the Arc of Northern Virginia ($743k) and Pittsburgh Elite Aquatics ($742k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 116% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $3,145 (0.7% of expenses). Other salaries and wages came to $91k. At year end it held assets of $611k against liabilities of $172k, net assets of $438k.