Music Will Inc

Analysis

Music Will Inc is a registered charity in United States, based in Covina, CA. It received its IRS tax-exemption ruling in February 2002, 24 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, Music Will Inc reported income of $6.2m and spending of $6.0m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.0m to $6.2m (+2.0%), an average of +0.5% a year. The sharpest change came in the year to June 2020, when income rose by 33%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Music Will Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within CA. Charities of a similar size with the same main cause include New England Foundation for the Arts Inc ($6.2m), American Symphony Orchestra League ($6.2m) and California Film Institute ($6.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% and program service revenue 5.5% of the total. Compensation of current officers, directors and key employees was $964k (16% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $6.7m against liabilities of $583k, net assets of $6.1m. It reported 37 employees.