South Philadelphia String Band Inc

Analysis

South Philadelphia String Band Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in May 2016, 10 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, South Philadelphia String Band Inc reported income of $335k and spending of $346k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $217k to $335k (+54%), an average of +11% a year. The sharpest change came in the year to December 2022, when income rose by 64%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, South Philadelphia String Band Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 62nd percentile within PA. Charities of a similar size with the same main cause include Diversity of Dance Inc ($335k), Historic Rural Hill Inc ($335k) and Gospel Opportunities Inc ($335k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 52% of the total. At year end it held assets of $531k against liabilities of $128k, net assets of $403k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.