Reading Musical Foundation
EIN: 231472487 · Reading, PA · NTEE: A68I
| Metric | Value |
|---|---|
| Total Revenue | $1.8M |
| Total Expenses | $1.1M |
| Net Assets | $19.1M |
Is Reading Musical Foundation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Reading Musical Foundation
Reading Musical Foundation (EIN: 231472487) is a nonprofit organization based in Reading, PA, classified under NTEE code A68I. The organization reported total revenue of $1.8M and total assets of $23.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Reading Musical Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Reading Musical Foundation is a mid-size nonprofit that has been operating for 83 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 7.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $1.1M |
| Surplus / Deficit | +$651K |
| Total Assets | $19.5M |
| Total Liabilities | $404K |
| Net Assets | $19.1M |
| Operating Margin | 37.5% |
| Debt-to-Asset Ratio | 2.1% |
| Months of Reserves | 216.4 months |
Financial Health Grade: A
In 2023, Reading Musical Foundation reported a surplus of $651K with revenue exceeding expenses, holds 216.4 months of operating reserves (strong position), has a debt-to-asset ratio of 2.1% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Reading Musical Foundation's revenue has grown at a compound annual growth rate (CAGR) of 7.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -50.9% | +15.3% | +10.8% |
| 2022 | +139.5% | +22.9% | -14.5% |
| 2021 | +4.8% | -27.2% | +27.0% |
| 2020 | +11.2% | +7.4% | +3.1% |
| 2019 | -2.1% | +18.2% | +2.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2100 |
| IRS Ruling Date | 1943 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Reading Musical Foundation 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 Reading Musical Foundation 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $651K, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.1%.
Frequently Asked Questions about Reading Musical Foundation
Is Reading Musical Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Reading Musical Foundation (EIN: 231472487) insufficient data. 0 red flags identified, 0 strengths noted.
How does Reading Musical Foundation spend its money?
Detailed spending breakdown data is not yet available for Reading Musical Foundation. Check back for updated IRS 990 analysis.
Are donations to Reading Musical Foundation tax-deductible?
Reading Musical Foundation is registered as a tax-exempt nonprofit (EIN: 231472487). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Reading Musical Foundation located?
Reading Musical Foundation is headquartered in Reading, Pennsylvania and files with the IRS under EIN 231472487. It is classified under NTEE code A68I.
How many years of IRS 990 filings does Reading Musical Foundation have?
Reading Musical Foundation has 12 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 $1.8M in total revenue.
Filing History
IRS 990 filing history for Reading Musical Foundation showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Reading Musical Foundation's revenue has grown by 129.3%, moving from $757K to $1.7M. Total assets increased by 77.3% over the same period, from $11.0M to $19.5M. Total functional expenses rose by 63.8%, from $662K to $1.1M. In its most recent filing year (2023), Reading Musical Foundation reported a surplus of $651K, with revenue exceeding expenses. The organization holds $404K in liabilities against $19.5M in assets (debt-to-asset ratio: 2.1%), resulting in net assets of $19.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $1.1M | $19.5M | $404K | — | View 990 |
| 2022 | $3.5M | $940K | $17.6M | $359K | — | View 990 |
| 2021 | $1.5M | $765K | $20.6M | $313K | — | View 990 |
| 2020 | $1.4M | $1.1M | $16.3M | $307K | — | View 990 |
| 2019 | $1.3M | $978K | $15.8M | $229K | — | View 990 |
| 2018 | $1.3M | $827K | $15.5M | $240K | — | View 990 |
| 2017 | $1.0M | $794K | $14.6M | $205K | — | View 990 |
| 2016 | $987K | $781K | $13.4M | $205K | — | View 990 |
| 2015 | $1.3M | $755K | $13.9M | $174K | — | View 990 |
| 2014 | $1.3M | $683K | $13.8M | $158K | — | View 990 |
| 2013 | $712K | $628K | $11.9M | $121K | — | View 990 |
| 2012 | $757K | $662K | $11.0M | $136K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $1.1M, and assets of $19.5M (revenue -50.9% year-over-year).
- 2022: Revenue of $3.5M, expenses of $940K, and assets of $17.6M (revenue +139.5% year-over-year).
- 2021: Revenue of $1.5M, expenses of $765K, and assets of $20.6M (revenue +4.8% year-over-year).
- 2020: Revenue of $1.4M, expenses of $1.1M, and assets of $16.3M (revenue +11.2% year-over-year).
- 2019: Revenue of $1.3M, expenses of $978K, and assets of $15.8M (revenue -2.1% year-over-year).
- 2018: Revenue of $1.3M, expenses of $827K, and assets of $15.5M (revenue +27.9% year-over-year).
- 2017: Revenue of $1.0M, expenses of $794K, and assets of $14.6M (revenue +2.5% year-over-year).
- 2016: Revenue of $987K, expenses of $781K, and assets of $13.4M (revenue -21.4% year-over-year).
- 2015: Revenue of $1.3M, expenses of $755K, and assets of $13.9M (revenue -1.5% year-over-year).
- 2014: Revenue of $1.3M, expenses of $683K, and assets of $13.8M (revenue +78.9% year-over-year).
- 2013: Revenue of $712K, expenses of $628K, and assets of $11.9M (revenue -5.8% year-over-year).
- 2012: Revenue of $757K, expenses of $662K, and assets of $11.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Reading Musical Foundation:
Data Sources and Methodology
This transparency report for Reading Musical Foundation 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.