Youth Music Monterey

Analysis

Youth Music Monterey is a registered charity in United States, based in Monterey, CA. It received its IRS tax-exemption ruling in May 1987, 39 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Youth Music Monterey reported income of $417k and spending of $415k, spending 99% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $401k to $417k (+4.0%), an average of +1.3% a year. The sharpest change came in the year to June 2021, when income rose by 40%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Youth Music Monterey 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 67th percentile, and in the 69th percentile within CA. Charities of a similar size with the same main cause include African American Cultural Festival of Raleigh Wake County Inc ($417k), Hope Box Performing Arts ($417k) and National Society of the Daughters of the American Revolution ($417k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 71% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $73k (18% of expenses). Other salaries and wages came to $152k. At year end it held assets of $448k against liabilities of $13k, net assets of $434k. It reported 27 employees.