Poetry Society of America

Analysis

Poetry Society of America is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in May 1937, 89 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Poetry Society of America reported income of $791k and spending of $832k, spending 105% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $657k to $791k (+20%), an average of +4.8% a year. The sharpest change came in the year to June 2022, when income rose by 61%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Poetry Society of America sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within NY. Charities of a similar size with the same main cause include San Antonio Public Library Foundation ($791k), Oklahoma Repertory Theatre Group Incorporated ($791k) and Arts Horizons Inc ($790k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 65% and program service revenue 4.8% of the total. Compensation of current officers, directors and key employees was $132k (16% of expenses). Other salaries and wages came to $202k. At year end it held assets of $5.7m against liabilities of $515k, net assets of $5.2m. It reported 4 employees.