Music Haven Inc
Music Haven Inc. shows strong revenue growth and asset accumulation with no reported officer compensation.
EIN: 10870395 · New Haven, CT · NTEE: A68 · Updated: 2026-03-27
Is Music Haven Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Music Haven Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Music Haven Inc
Music Haven Inc (EIN: 10870395) is a nonprofit organization based in New Haven, CT, classified under NTEE code A68. The organization reported total revenue of $1.3M and total assets of $1.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Music Haven Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Music Haven Inc is a mid-size nonprofit that has been operating for 20 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 16.9%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.6M |
| Total Expenses | $937K |
| Surplus / Deficit | +$664K |
| Total Assets | $1.7M |
| Total Liabilities | $4K |
| Net Assets | $1.7M |
| Operating Margin | 41.5% |
| Debt-to-Asset Ratio | 0.3% |
| Months of Reserves | 21.4 months |
Financial Health Grade: A
In 2024, Music Haven Inc reported a surplus of $664K with revenue exceeding expenses, holds 21.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.3% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), Music Haven Inc's revenue has grown at a compound annual growth rate (CAGR) of 16.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +97.5% | +6.4% | +69.3% |
| 2023 | -11.5% | +7.0% | -4.5% |
| 2022 | -8.0% | +21.2% | -4.1% |
| 2021 | +28.9% | +2.5% | +47.2% |
| 2020 | +14.1% | +3.6% | +36.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Music Haven Inc with a Mission Score of 92 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, Music Haven 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 (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $664K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.3%.
Executive Compensation Analysis
Music Haven Inc. consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers or that these roles are filled by volunteers. This is a highly positive indicator of financial stewardship and a strong commitment to directing funds towards program delivery.
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.
Strengths
The following positive indicators were identified for Music Haven Inc:
- Strong revenue growth, increasing from $528,520 in 201706 to $1,600,473 in 202406.
- Consistent asset growth, reaching $1,668,283 in 202406 from $398,909 in 201706.
- No reported officer compensation across all 14 filings, indicating excellent financial stewardship.
- Expenses consistently lower than revenue in recent periods, contributing to healthy net asset accumulation.
- Consistent filing history demonstrating transparency and compliance.
Frequently Asked Questions about Music Haven Inc
Is Music Haven Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Music Haven Inc (EIN: 10870395) appears legitimate. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
How does Music Haven Inc spend its money?
Music Haven Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Music Haven Inc tax-deductible?
Music Haven Inc is registered as a tax-exempt nonprofit (EIN: 10870395). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Music Haven Inc. a good charity?
Based on the financial data, Music Haven Inc. appears to be a very good charity. It demonstrates strong financial health with growing revenues and assets, efficient spending (expenses are well below revenue in recent years), and a notable commitment to its mission by reporting 0% officer compensation across all filings.
How has Music Haven Inc.'s financial health changed over time?
Music Haven Inc.'s financial health has significantly improved over time. Revenue has grown from $528,520 in 201706 to $1,600,473 in 202406, and assets have increased from $398,909 to $1,668,283 in the same period, indicating substantial growth and financial stability.
What is the organization's approach to executive compensation?
The organization reports 0% officer compensation in all available IRS 990 filings, suggesting a highly lean or volunteer-driven executive structure. This indicates a strong focus on allocating resources directly to programs rather than executive salaries.
Filing History
IRS 990 filing history for Music Haven Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Music Haven Inc's revenue has grown by 664.1%, moving from $209K to $1.6M. Total assets increased by 1975.7% over the same period, from $80K to $1.7M. Total functional expenses rose by 426%, from $178K to $937K. In its most recent filing year (2024), Music Haven Inc reported a surplus of $664K, with revenue exceeding expenses. The organization holds $4K in liabilities against $1.7M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $1.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $1.6M | $937K | $1.7M | $4K | — | View 990 |
| 2023 | $810K | $880K | $985K | $2K | — | View 990 |
| 2022 | $915K | $823K | $1.0M | $1K | — | View 990 |
| 2021 | $995K | $679K | $1.1M | $89K | — | View 990 |
| 2020 | $772K | $662K | $730K | $86K | — | View 990 |
| 2019 | $677K | $639K | $536K | $4K | — | View 990 |
| 2018 | $705K | $614K | $495K | $0 | — | View 990 |
| 2017 | $529K | $560K | $399K | $0 | — | View 990 |
| 2016 | $592K | $607K | $420K | $0 | — | View 990 |
| 2015 | $540K | $452K | $435K | $0 | — | View 990 |
| 2014 | $498K | $353K | $353K | $5K | — | View 990 |
| 2013 | $344K | $288K | $202K | $0 | — | View 990 |
| 2012 | $299K | $234K | $146K | $0 | — | View 990 |
| 2011 | $209K | $178K | $80K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $1.6M, expenses of $937K, and assets of $1.7M (revenue +97.5% year-over-year).
- 2023: Revenue of $810K, expenses of $880K, and assets of $985K (revenue -11.5% year-over-year).
- 2022: Revenue of $915K, expenses of $823K, and assets of $1.0M (revenue -8.0% year-over-year).
- 2021: Revenue of $995K, expenses of $679K, and assets of $1.1M (revenue +28.9% year-over-year).
- 2020: Revenue of $772K, expenses of $662K, and assets of $730K (revenue +14.1% year-over-year).
- 2019: Revenue of $677K, expenses of $639K, and assets of $536K (revenue -4.0% year-over-year).
- 2018: Revenue of $705K, expenses of $614K, and assets of $495K (revenue +33.3% year-over-year).
- 2017: Revenue of $529K, expenses of $560K, and assets of $399K (revenue -10.8% year-over-year).
- 2016: Revenue of $592K, expenses of $607K, and assets of $420K (revenue +9.8% year-over-year).
- 2015: Revenue of $540K, expenses of $452K, and assets of $435K (revenue +8.3% year-over-year).
- 2014: Revenue of $498K, expenses of $353K, and assets of $353K (revenue +44.9% year-over-year).
- 2013: Revenue of $344K, expenses of $288K, and assets of $202K (revenue +15.0% year-over-year).
- 2012: Revenue of $299K, expenses of $234K, and assets of $146K (revenue +42.8% year-over-year).
- 2011: Revenue of $209K, expenses of $178K, and assets of $80K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Music Haven Inc:
Data Sources and Methodology
This transparency report for Music Haven 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.