Believe In Music Inc
EIN: 475384551 · Baltimore, MD · NTEE: A68
| Metric | Value |
|---|---|
| Total Revenue | $257K |
| Total Expenses | $277K |
| Net Assets | $151K |
Is Believe In Music Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Believe In Music Inc
Believe In Music Inc (EIN: 475384551) is a nonprofit organization based in Baltimore, MD, classified under NTEE code A68. The organization reported total revenue of $257K and total assets of $152K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Believe In Music Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Believe In Music Inc is a small nonprofit that has been operating for 10 years, with 4 years of IRS 990 filings on record (2016–2019). Revenue has grown at a compound annual rate of 7.0%.
Key Financial Metrics (2019)
From the most recent IRS 990 filing on record:
| Total Revenue | $257K |
| Total Expenses | $277K |
| Surplus / Deficit | $-19,642 |
| Total Assets | $152K |
| Total Liabilities | $1K |
| Net Assets | $151K |
| Operating Margin | -7.6% |
| Debt-to-Asset Ratio | 0.8% |
| Months of Reserves | 6.6 months |
Financial Health Grade: B
In 2019, Believe In Music Inc reported a deficit of $20K with expenses exceeding revenue, holds 6.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.8% (very low leverage).
Financial Trends
Over 4 years of filings (2016–2019), Believe In Music Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2019 | -10.1% | +16.5% | -11.2% |
| 2018 | +48.9% | +20.5% | +39.7% |
| 2017 | -8.4% | +121.2% | -4.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2016 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Believe In Music Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Believe In Music Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2019)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $20K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.8%.
Frequently Asked Questions about Believe In Music Inc
Is Believe In Music Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Believe In Music Inc (EIN: 475384551) insufficient data. 0 red flags identified, 0 strengths noted.
How does Believe In Music Inc spend its money?
Detailed spending breakdown data is not yet available for Believe In Music Inc. Check back for updated IRS 990 analysis.
Are donations to Believe In Music Inc tax-deductible?
Believe In Music Inc is registered as a tax-exempt nonprofit (EIN: 475384551). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Believe In Music Inc located?
Believe In Music Inc is headquartered in Baltimore, Maryland and files with the IRS under EIN 475384551. It is classified under NTEE code A68.
How many years of IRS 990 filings does Believe In Music Inc have?
Believe In Music Inc has 4 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $257K in total revenue.
Filing History
IRS 990 filing history for Believe In Music Inc showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2016–2019), Believe In Music Inc's revenue has grown by 22.7%, moving from $210K to $257K. Total assets increased by 18.5% over the same period, from $128K to $152K. Total functional expenses rose by 210.3%, from $89K to $277K. In its most recent filing year (2019), Believe In Music Inc reported a deficit of $20K, with expenses exceeding revenue. The organization holds $1K in liabilities against $152K in assets (debt-to-asset ratio: 0.8%), resulting in net assets of $151K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2019 | $257K | $277K | $152K | $1K | — | View 990 |
| 2018 | $286K | $238K | $171K | $659 | — | View 990 |
| 2017 | $192K | $197K | $122K | $373 | — | View 990 |
| 2016 | $210K | $89K | $128K | $727 | — | View 990 |
Year-by-Year Financial Summary
- 2019: Revenue of $257K, expenses of $277K, and assets of $152K (revenue -10.1% year-over-year).
- 2018: Revenue of $286K, expenses of $238K, and assets of $171K (revenue +48.9% year-over-year).
- 2017: Revenue of $192K, expenses of $197K, and assets of $122K (revenue -8.4% year-over-year).
- 2016: Revenue of $210K, expenses of $89K, and assets of $128K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Believe In Music Inc:
Data Sources and Methodology
This transparency report for Believe In Music Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.