Kings Palace Music Academy

Analysis

Kings Palace Music Academy is a registered charity in United States, based in Katy, TX. It received its IRS tax-exemption ruling in March 2022, 4 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Kings Palace Music Academy reported income of $126k and spending of $121k, spending 97% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $82k to $126k (+54%), an average of +54% a year. The sharpest change came in the year to December 2023, when income rose by 54%. Over the whole period it spent 90% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Kings Palace Music Academy sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 46th percentile within TX. Charities of a similar size with the same main cause include Gracepoint Institute for Relational Health ($126k), Center for Jewish Identity Inc ($126k) and Doing It Gods Way Ministries Inc ($126k).

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 $21k against liabilities of $0, net assets of $21k.