Raleigh Music Collective Holding 1

Analysis

Raleigh Music Collective Holding 1 is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in September 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Raleigh Music Collective Holding 1 reported income of $79k and spending of $74k, spending 94% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $83k to $79k (-4.6%), an average of -4.6% a year. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Raleigh Music Collective Holding 1 sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 29th percentile within NC. Charities of a similar size with the same main cause include Freestone County Historical and Museum Board ($79k), The Alibi Preservation Foundation ($79k) and Nepal Heritage Inc ($79k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 42% and program service revenue 57% of the total. At year end it held assets of $15k against liabilities of $1,254, net assets of $14k.