Rhode Island Watercolor Society

Analysis

Rhode Island Watercolor Society is a registered charity in United States, based in Pawtucket, RI. It received its IRS tax-exemption ruling in April 1974, 52 years ago. 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, Rhode Island Watercolor Society reported income of $110k and spending of $96k, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $144k to $110k (-24%), an average of -6.5% a year. The sharpest change came in the year to December 2021, when income rose by 53%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Rhode Island Watercolor Society sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 35th percentile within RI. Charities of a similar size with the same main cause include Ketchikan Youth Soccer League Inc ($110k), Billy Blackwood Ministries Inc ($110k) and Oliver Township Volunteer Fire Company ($110k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 31% and program service revenue 55% of the total. Other salaries and wages came to $29k. At year end it held assets of $319k against liabilities of $6,030, net assets of $313k. It reported 1 employees.