Building Bridges Through Music Inc
Building Bridges Through Music Inc consistently expends all revenue on operations with no officer compensation.
EIN: 20539062 · Lynn, MA · NTEE: X20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $522K |
| Total Expenses | $522K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $500,000 |
| Net Assets | $81K |
| Transparency Score | 90/100 |
Is Building Bridges Through Music Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Building Bridges Through Music Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Building Bridges Through Music Inc
Building Bridges Through Music Inc (EIN: 20539062) is a nonprofit organization based in Lynn, MA, classified under NTEE code X20. The organization reported total revenue of $522K and total assets of $81K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Building Bridges Through Music Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Building Bridges Through Music Inc is a small nonprofit that has been operating for 24 years, with 11 years of IRS 990 filings on record (2013–2023). Revenue has grown at a compound annual rate of 30.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $522K |
| Total Expenses | $522K |
| Surplus / Deficit | +$0 |
| Total Assets | $81K |
| Net Assets | $81K |
| Operating Margin | 0.0% |
| Months of Reserves | 1.9 months |
Financial Health Grade: C
In 2023, Building Bridges Through Music Inc reported a surplus of $0 with revenue exceeding expenses, holds 1.9 months of operating reserves (limited).
Financial Trends
Over 11 years of filings (2013–2023), Building Bridges Through Music Inc's revenue has grown at a compound annual growth rate (CAGR) of 30.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +23.8% | +26.9% | -39.6% |
| 2022 | -2.6% | +16.9% | +8.3% |
| 2021 | +60.0% | +48.9% | +199.5% |
| 2020 | +31.8% | +3.8% | +1888.5% |
| 2019 | +47.5% | +91.8% | -91.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7000 |
| IRS Ruling Date | 2002 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Building Bridges Through Music Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Building Bridges Through Music Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $0, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all 11 filings, indicating that no funds are allocated to officer salaries, which is highly commendable for an organization of its size with over $500,000 in annual revenue.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Building Bridges Through Music Inc's IRS 990 filings:
- Unusual negative liabilities reported in 2023 and 2022 filings ($-50), which warrants further clarification.
Strengths
The following positive indicators were identified for Building Bridges Through Music Inc:
- Consistent 0% officer compensation across all filings, indicating efficient use of funds.
- Strong and consistent revenue growth, more than doubling from $205,159 in 2019 to $521,546 in 2023.
- All revenue consistently expended on operations, demonstrating a commitment to deploying resources.
- Mission-aligned NTEE code (X20 - Music) for 'Building Bridges Through Music Inc'.
Frequently Asked Questions about Building Bridges Through Music Inc
Is Building Bridges Through Music Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Building Bridges Through Music Inc (EIN: 20539062) some concerns. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.
How does Building Bridges Through Music Inc spend its money?
Building Bridges Through Music Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Building Bridges Through Music Inc tax-deductible?
Building Bridges Through Music Inc is registered as a tax-exempt nonprofit (EIN: 20539062). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Building Bridges Through Music Inc CEO make?
Building Bridges Through Music Inc's highest-compensated officer earns $500,000 annually. The organization reported $522K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Building Bridges Through Music Inc's spending goes to programs?
Building Bridges Through Music Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Building Bridges Through Music Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Building Bridges Through Music Inc is above average for NTEE category X20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Building Bridges Through Music Inc located?
Building Bridges Through Music Inc is headquartered in Lynn, Massachusetts and files with the IRS under EIN 20539062. It is classified under NTEE code X20.
How many years of IRS 990 filings does Building Bridges Through Music Inc have?
Building Bridges Through Music Inc has 11 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $522K in total revenue.
Is Building Bridges Through Music Inc a good charity?
Based on the provided data, Building Bridges Through Music Inc appears to be a good charity. It consistently spends all its revenue on operations, has shown significant revenue growth, and reports 0% officer compensation, indicating a strong commitment to its mission and efficient use of funds.
How has the organization's revenue grown over time?
Building Bridges Through Music Inc has shown substantial revenue growth, increasing from $23,327 in 2014 to $521,546 in 2023, demonstrating a strong upward trend in financial support.
What is the significance of 0% officer compensation?
0% officer compensation is a significant positive indicator, suggesting that the organization's leadership is either volunteer-based or compensated through other means not classified as officer compensation, ensuring that donor funds are directed towards programs rather than executive salaries.
What do the negative liabilities in 2023 and 2022 mean?
The negative liabilities ($-50) reported in 2023 and 2022 are unusual for standard accounting practices and would typically indicate an error in reporting or a highly specific accounting entry. Further investigation into the detailed IRS 990 forms would be necessary to understand this anomaly.
Filing History
IRS 990 filing history for Building Bridges Through Music Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2013–2023), Building Bridges Through Music Inc's revenue has grown by 1331.8%, moving from $36K to $522K. Total assets increased by 1262.7% over the same period, from $6K to $81K. Total functional expenses rose by 1070.2%, from $45K to $522K. In its most recent filing year (2023), Building Bridges Through Music Inc reported a surplus of $0, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $522K | $522K | $81K | $-50 | — | — |
| 2022 | $421K | $411K | $135K | $-50 | — | View 990 |
| 2021 | $433K | $351K | $124K | $0 | — | View 990 |
| 2020 | $270K | $236K | $42K | $0 | — | View 990 |
| 2019 | $205K | $227K | $2K | $0 | — | View 990 |
| 2018 | $139K | $119K | $24K | $0 | — | View 990 |
| 2017 | $174K | $254K | $12K | $118K | — | View 990 |
| 2016 | $242K | $250K | $28K | $55K | — | View 990 |
| 2015 | $206K | $193K | $23K | $40K | — | View 990 |
| 2014 | $23K | $42K | $2K | $26K | — | View 990 |
| 2013 | $36K | $45K | $6K | $11K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $522K, expenses of $522K, and assets of $81K (revenue +23.8% year-over-year).
- 2022: Revenue of $421K, expenses of $411K, and assets of $135K (revenue -2.6% year-over-year).
- 2021: Revenue of $433K, expenses of $351K, and assets of $124K (revenue +60.0% year-over-year).
- 2020: Revenue of $270K, expenses of $236K, and assets of $42K (revenue +31.8% year-over-year).
- 2019: Revenue of $205K, expenses of $227K, and assets of $2K (revenue +47.5% year-over-year).
- 2018: Revenue of $139K, expenses of $119K, and assets of $24K (revenue -20.2% year-over-year).
- 2017: Revenue of $174K, expenses of $254K, and assets of $12K (revenue -27.9% year-over-year).
- 2016: Revenue of $242K, expenses of $250K, and assets of $28K (revenue +17.4% year-over-year).
- 2015: Revenue of $206K, expenses of $193K, and assets of $23K (revenue +783.1% year-over-year).
- 2014: Revenue of $23K, expenses of $42K, and assets of $2K (revenue -36.0% year-over-year).
- 2013: Revenue of $36K, expenses of $45K, and assets of $6K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Building Bridges Through Music Inc:
Data Sources and Methodology
This transparency report for Building Bridges Through 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.