The Folk Project

Analysis

The Folk Project is a registered charity in United States, based in Morristown, NJ. It received its IRS tax-exemption ruling in April 1982, 44 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, The Folk Project reported income of $121k and spending of $156k, spending 129% of what it took in. Across the 3 years on record, from December 2019 to December 2023, income fell from $250k to $121k (-52%), an average of -30% a year. The sharpest change came in the year to December 2022, when income dropped by 67%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Folk Project sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 50th percentile within NJ. Charities of a similar size with the same main cause include Yachatsnews ($121k), Main Street Theatre Company ($121k) and Childrens Complex Inc ($121k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 11% and program service revenue 72% of the total. At year end it held assets of $220k against liabilities of $7,777, net assets of $213k.