Discovery Center of the Southern Tier

Analysis

Discovery Center of the Southern Tier is a registered charity in United States, based in Binghamton, NY. It received its IRS tax-exemption ruling in August 1985, 41 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 May 2023, Discovery Center of the Southern Tier reported income of $1.3m and spending of $1.3m, spending 98% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $986k to $1.3m (+30%), an average of +6.9% a year. The sharpest change came in the year to May 2022, when income rose by 25%. 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, Discovery Center of the Southern Tier sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 78th percentile within NY. Charities of a similar size with the same main cause include Firstworks ($1.3m), Teco Theatrical Productions Inc ($1.3m) and Lancaster Science Center ($1.3m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 30% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $65k (5.2% of expenses). Other salaries and wages came to $705k. At year end it held assets of $1.8m against liabilities of $210k, net assets of $1.6m. It reported 54 employees.