Society for Strings Inc

Analysis

Society for Strings Inc is a registered charity in United States, based in Westport, NY. It received its IRS tax-exemption ruling in December 1952, 74 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, Society for Strings Inc reported income of $2.0m and spending of $2.0m, spending 102% of its income. Across the 6 years on record, from October 2019 to December 2023, income grew from $1.2m to $2.0m (+63%), an average of +10% a year. The sharpest change came in the year to December 2022, when income rose by 970%. Over the whole period it spent 108% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Society for Strings Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include Chinese Historical Society of America ($1.9m), Roads of Success ($2.0m) and Organization for Human Brain Mapping Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 15% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $170k (8.5% of expenses). Other salaries and wages came to $806k. At year end it held assets of $7.1m against liabilities of $94k, net assets of $7.0m. It reported 53 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.