Philadelphia Folklore Project

Analysis

Philadelphia Folklore Project is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in October 1989, 37 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, Philadelphia Folklore Project reported income of $180k and spending of $321k, spending 178% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $201k to $180k (-10%), an average of -2.7% a year. The sharpest change came in the year to August 2020, when income rose by 87%. Over the whole period it spent 132% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Philadelphia Folklore Project sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 49th percentile within PA. Charities of a similar size with the same main cause include Chelmsford Historical Society Inc ($180k), Ratanapanya Meditation Center ($180k) and Raintree Arts Council ($180k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 98% and program service revenue 1.7% of the total. Compensation of current officers, directors and key employees was $35k (11% of expenses). Other salaries and wages came to $43k. At year end it held assets of $612k against liabilities of $34k, net assets of $578k. It reported 3 employees.

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.