Permian Basin Public Telecommunications Inc

Analysis

Permian Basin Public Telecommunications Inc is a registered charity in United States, based in Midland, TX. It received its IRS tax-exemption ruling in June 2006, 20 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 August 2023, Permian Basin Public Telecommunications Inc reported income of $1.7m and spending of $2.0m, spending 119% of what it took in. Across the 4 years on record, from August 2020 to August 2023, income fell from $2.2m to $1.7m (-24%), an average of -8.6% a year. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Permian Basin Public Telecommunications Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 88th percentile within TX. Charities of a similar size with the same main cause include Modesto Symphony Orchestra Association ($1.7m), James M and Cathleen D Stone Family Foundation Inc ($1.7m) and Jasmine Moran Childrens Museum Foundation Inc ($1.7m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 87% and program service revenue 6.1% of the total. Compensation of current officers, directors and key employees was $129k (6.4% of expenses). Other salaries and wages came to $479k. At year end it held assets of $7.8m against liabilities of $1.2m, net assets of $6.5m. It reported 13 employees.