Music Guild

Analysis

Music Guild is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in July 1946, 80 years ago. 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 June 2022, Music Guild reported income of $262k and spending of $195k, leaving 26% of income unspent that year. Across the 3 years on record, from June 2019 to June 2022, income grew from $158k to $262k (+65%), an average of +28% a year. The sharpest change came in the year to June 2021, when income rose by 98%. Over the whole period it spent 74% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Music Guild sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 61st percentile within CA. Charities of a similar size with the same main cause include Redwood Coast Music Festivals Inc ($262k), United Way of Leflore County Inc ($262k) and Mason Youth Organization ($262k).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 94% and program service revenue 5.8% of the total. Other salaries and wages came to $70k. At year end it held assets of $381k against liabilities of $0, net assets of $381k. It reported 2 employees.