Friends of the Paragon Carousel Inc

Analysis

Friends of the Paragon Carousel Inc is a registered charity in United States, based in Hull, MA. It received its IRS tax-exemption ruling in June 1996, 30 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 December 2023, Friends of the Paragon Carousel Inc reported income of $440k and spending of $380k, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $474k to $440k (-7.2%), an average of -1.9% a year. The sharpest change came in the year to December 2022, when income dropped by 18%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of the Paragon Carousel Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 69th percentile within MA. Charities of a similar size with the same main cause include Corn Stock Theatre ($440k), Rehoboth Antiquarian Society ($440k) and Inside the Orchestra Inc ($440k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 36% of the total. Other salaries and wages came to $164k. At year end it held assets of $697k against liabilities of $48k, net assets of $649k. It reported 33 employees.