Philadelphia Folksong Society

Analysis

Philadelphia Folksong Society is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in September 1962, 64 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, Philadelphia Folksong Society reported income of $240k and spending of $191k, leaving 20% of income unspent that year. Across the 6 years on record, from March 2019 to December 2023, income fell from $1.4m to $240k (-83%), an average of -30% a year. The sharpest change came in the year to December 2023, when income dropped by 84%. Over the whole period it spent 108% 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 Folksong Society sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 55th percentile within PA. Charities of a similar size with the same main cause include Jamaica Plain Tuesday Club Inc ($240k), Barrington Arts Alive ($240k) and Gardencomm Garden Communications International Inc ($240k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 54% and program service revenue 46% of the total. Compensation of current officers, directors and key employees was $30k (16% of expenses). At year end it held assets of $131k against liabilities of $173k, net assets of -$42k. It reported 1 employees.