Young Musicians Foundation

Analysis

Young Musicians Foundation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in March 1960, 66 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, Young Musicians Foundation reported income of $1.2m and spending of $1.1m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.0m to $1.2m (+24%), an average of +5.4% a year. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Young Musicians Foundation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within CA. Charities of a similar size with the same main cause include Humanities Kansas Inc ($1.2m), New England Complex Systems Institute Inc ($1.2m) and Kuac Friends Group ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 74% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $91k (8.0% of expenses). Other salaries and wages came to $517k. It paid $25k in professional fundraising fees. At year end it held assets of $1.4m against liabilities of $0, net assets of $1.4m. It reported 29 employees.