Young Musicians Unite Inc
EIN: 462610764 · Miami, FL · NTEE: A68
| Metric | Value |
|---|---|
| Total Revenue | $3.9M |
| Total Expenses | $2.0M |
| Net Assets | $736K |
Is Young Musicians Unite Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Young Musicians Unite Inc
Young Musicians Unite Inc (EIN: 462610764) is a nonprofit organization based in Miami, FL, classified under NTEE code A68. The organization reported total revenue of $3.9M and total assets of $1.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Young Musicians Unite Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Young Musicians Unite Inc is a mid-size nonprofit that has been operating for 12 years, with 8 years of IRS 990 filings on record (2013–2023). Revenue has grown at a compound annual rate of 57.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.1M |
| Total Expenses | $2.0M |
| Surplus / Deficit | +$61K |
| Total Assets | $903K |
| Total Liabilities | $167K |
| Net Assets | $736K |
| Operating Margin | 2.9% |
| Debt-to-Asset Ratio | 18.5% |
| Months of Reserves | 5.4 months |
Financial Health Grade: A
In 2023, Young Musicians Unite Inc reported a surplus of $61K with revenue exceeding expenses, holds 5.4 months of operating reserves (adequate), has a debt-to-asset ratio of 18.5% (very low leverage).
Financial Trends
Over 8 years of filings (2013–2023), Young Musicians Unite Inc's revenue has grown at a compound annual growth rate (CAGR) of 57.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +66.3% | +60.9% | +22.7% |
| 2022 | +27.2% | +54.4% | -1.0% |
| 2021 | +47.9% | +84.7% | +37.0% |
| 2020 | +36.4% | +35.0% | +92.0% |
| 2019 | +228.7% | +276.7% | +131.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2014 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Young Musicians Unite 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 Young Musicians Unite 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $61K, with revenue exceeding expenses.
- Debt-to-asset ratio: 18.5%.
Frequently Asked Questions about Young Musicians Unite Inc
Is Young Musicians Unite Inc a legitimate charity?
Young Musicians Unite Inc (EIN: 462610764) is a registered tax-exempt nonprofit based in Florida. It has 8 years of IRS 990 filings on record. Total revenue: $3.9M. No red flags identified. Financial health grade: A.
How does Young Musicians Unite Inc spend its money?
Young Musicians Unite Inc reported $3.9M in total revenue in IRS 990 filings. 8 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Young Musicians Unite Inc tax-deductible?
Young Musicians Unite Inc is registered as a tax-exempt nonprofit (EIN: 462610764). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Young Musicians Unite Inc located?
Young Musicians Unite Inc is headquartered in Miami, Florida and files with the IRS under EIN 462610764. It is classified under NTEE code A68.
How many years of IRS 990 filings does Young Musicians Unite Inc have?
Young Musicians Unite Inc has 8 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 $3.9M in total revenue.
Filing History
IRS 990 filing history for Young Musicians Unite Inc showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2013–2023), Young Musicians Unite Inc's revenue has grown by 9332.6%, moving from $22K to $2.1M. Total assets increased by 7680% over the same period, from $12K to $903K. Total functional expenses rose by 19159.5%, from $11K to $2.0M. In its most recent filing year (2023), Young Musicians Unite Inc reported a surplus of $61K, with revenue exceeding expenses. The organization holds $167K in liabilities against $903K in assets (debt-to-asset ratio: 18.5%), resulting in net assets of $736K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.1M | $2.0M | $903K | $167K | — | — |
| 2022 | $1.3M | $1.3M | $736K | $61K | — | View 990 |
| 2021 | $986K | $815K | $743K | $65K | — | — |
| 2020 | $667K | $441K | $542K | $36K | — | View 990 |
| 2019 | $489K | $327K | $283K | $2K | — | View 990 |
| 2018 | $149K | $87K | $122K | $0 | — | View 990 |
| 2017 | $136K | $89K | $60K | $0 | — | — |
| 2013 | $22K | $11K | $12K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.1M, expenses of $2.0M, and assets of $903K (revenue +66.3% year-over-year).
- 2022: Revenue of $1.3M, expenses of $1.3M, and assets of $736K (revenue +27.2% year-over-year).
- 2021: Revenue of $986K, expenses of $815K, and assets of $743K (revenue +47.9% year-over-year).
- 2020: Revenue of $667K, expenses of $441K, and assets of $542K (revenue +36.4% year-over-year).
- 2019: Revenue of $489K, expenses of $327K, and assets of $283K (revenue +228.7% year-over-year).
- 2018: Revenue of $149K, expenses of $87K, and assets of $122K (revenue +9.7% year-over-year).
- 2017: Revenue of $136K, expenses of $89K, and assets of $60K (revenue +513.5% year-over-year).
- 2013: Revenue of $22K, expenses of $11K, and assets of $12K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Young Musicians Unite Inc:
Data Sources and Methodology
This transparency report for Young Musicians Unite 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.