Portland Ovations

Analysis

Portland Ovations is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in August 1977, 49 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Portland Ovations reported income of $2.2m and spending of $2.6m, spending 122% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.4m to $2.2m (-7.8%), an average of -2.0% a year. The sharpest change came in the year to June 2022, when income rose by 216%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Portland Ovations sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 85th percentile within ME. Charities of a similar size with the same main cause include The Engineering Society of Detroit ($2.2m), Huntington Youth Bureau Youth Development Research Institute Inc ($2.2m) and Ballet Rhode Island ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 34% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $167k (6.3% of expenses). Other salaries and wages came to $439k. At year end it held assets of $3.7m against liabilities of $1.6m, net assets of $2.1m. It reported 9 employees.