Music Center of the Northwest Inc

Analysis

Music Center of the Northwest Inc is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in August 1990, 36 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Music Center of the Northwest Inc reported income of $1.2m and spending of $1.2m, spending 96% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $1.3m to $1.2m (-11%), an average of -2.8% a year. The sharpest change came in the year to August 2023, when income rose by 29%. Over the whole period it spent 72% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Music Center of the Northwest Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within WA. Charities of a similar size with the same main cause include Evangelical Childrens Home School ($1.2m), Vaishnav Sangh of USA Inc ($1.2m) and National Fraternal Order of Police Foundation ($1.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 28% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $130k (11% of expenses). Other salaries and wages came to $695k. At year end it held assets of $2.8m against liabilities of $119k, net assets of $2.7m. It reported 42 employees.