Florida Watercolor Society Inc

Analysis

Florida Watercolor Society Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in December 1974, 52 years ago. 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, Florida Watercolor Society Inc reported income of $150k and spending of $117k, leaving 22% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $120k to $150k (+24%), an average of +24% a year. The sharpest change came in the year to December 2023, when income rose by 24%. Over the whole period it spent 83% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Florida Watercolor Society Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 51st percentile within FL. Charities of a similar size with the same main cause include The Stanly County Arts Council Inc ($150k), Bainbridge Chorale ($150k) and Piedmont Play School ($150k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 11% and program service revenue 60% of the total. At year end it held assets of $459k against liabilities of $0, net assets of $459k.