charitable status is itself a tough one to adhere to, there are constrictions on what you can trade, no profit, and the records you keep in addition to Companies House accounts. What charitable status brings is a wider range of grants that can be sought and granted. The grant organisations have rules and give according to their own peculiar remit, many won't give to non-charities. It may be tuition for the young, Shooting Roots or promoting Balkan music in the UK (eg), it may be a Folkie who won the lottery and wants to be anonymous (in my dreams). There is a legend that a Canadian left a Million (GBP maybe) to Sidmouth to ensure that the character of the town was preserved. If so he is achieving that well.

Having served on a Community Radio I saw a lot of these musing and we weren't a charity. The Station folded through lack of money. Charitable status was pursued but we ran out of money before that was enacted. It limited our range of grants achievable.