Friends of Banning Park Corporation

Analysis

Friends of Banning Park Corporation is a registered charity in United States, based in Wilmington, CA. It received its IRS tax-exemption ruling in October 1974, 52 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 June 2023, Friends of Banning Park Corporation reported income of $508k and spending of $344k, leaving 32% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $360k to $508k (+41%), an average of +9.0% a year. The sharpest change came in the year to June 2022, when income rose by 58%. Over the whole period it spent 70% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of Banning Park Corporation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 72nd percentile within CA. Charities of a similar size with the same main cause include Pasadena Dance Theatre ($508k), Museum Association of New York ($508k) and Museum of Neon Art ($508k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 56% of the total. Other salaries and wages came to $161k. At year end it held assets of $2.9m against liabilities of $5,090, net assets of $2.9m. It reported 3 employees.