The Rhapsody Project

Analysis

The Rhapsody Project is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in February 2022, 4 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, The Rhapsody Project reported income of $382k and spending of $280k, leaving 27% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $165k to $382k (+132%), an average of +132% a year. The sharpest change came in the year to December 2023, when income rose by 132%. Over the whole period it spent 79% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Rhapsody Project sits at the 73rd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 64th percentile within WA. Charities of a similar size with the same main cause include Youth Code Jam San Antonio ($382k), Sea Dog Theater Inc ($382k) and Preservation Mass Inc ($381k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% and program service revenue 17% of the total. At year end it held assets of $134k against liabilities of $0, net assets of $134k.