Palm Springs Friends of Philharmonic

Analysis

Palm Springs Friends of Philharmonic is a registered charity in United States, based in Palm Springs, CA. It received its IRS tax-exemption ruling in September 1975, 51 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 June 2024, Palm Springs Friends of Philharmonic reported income of $1.8m and spending of $1.6m, spending 88% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1000k to $1.8m (+78%), an average of +16% a year. The sharpest change came in the year to June 2022, when income rose by 914%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Palm Springs Friends of Philharmonic sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within CA. Charities of a similar size with the same main cause include Grand Central Atelier Inc ($1.8m), Art 4 Life ($1.8m) and American Airpower Heritage Museum Inc ($1.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 53% and program service revenue 39% of the total. Other salaries and wages came to $176k. At year end it held assets of $3.7m against liabilities of $572k, net assets of $3.1m. It reported 2 employees.