Daponte String Quartet Foundation

Analysis

Daponte String Quartet Foundation is a registered charity in United States, based in Freeport, ME. It received its IRS tax-exemption ruling in June 1992, 34 years ago. 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 December 2023, Daponte String Quartet Foundation reported income of $240k and spending of $240k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $254k to $240k (-5.6%), an average of -1.4% a year. The sharpest change came in the year to December 2021, when income rose by 48%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Daponte String Quartet Foundation sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 51st percentile within ME. Charities of a similar size with the same main cause include Nashua Youth Soccer League ($240k), American Friends of Yikar Mordechai Inc ($240k) and Volunteers of America Inc ($240k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $164k (68% of expenses). Other salaries and wages came to $7,500. At year end it held assets of $322k against liabilities of $0, net assets of $322k. It reported 5 employees.