Friends of the Felt Estate

Analysis

Friends of the Felt Estate is a registered charity in United States, based in Holland, MI. It received its IRS tax-exemption ruling in October 2008, 18 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, Friends of the Felt Estate reported income of $763k and spending of $695k, spending 91% of its income. Across the 5 years on record, from March 2019 to March 2023, income grew from $295k to $763k (+158%), an average of +27% a year. The sharpest change came in the year to March 2020, when income rose by 60%. Over the whole period it spent 93% 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 the Felt Estate sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within MI. Charities of a similar size with the same main cause include The Art Base ($763k), Danvers Historical Society Glen Magna ($763k) and National Youth Theater ($762k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 6.2% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $66k (9.5% of expenses). Other salaries and wages came to $18k. At year end it held assets of $228k against liabilities of $17k, net assets of $211k. It reported 2 employees.