Packard Motorcar Foundation

Analysis

Packard Motorcar Foundation is a registered charity in United States, based in Shelby TWP, MI. It received its IRS tax-exemption ruling in May 1997, 29 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 December 2023, Packard Motorcar Foundation reported income of $1.1m and spending of $698k, leaving 36% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $826k to $1.1m (+32%), an average of +7.2% a year. The sharpest change came in the year to December 2023, when income rose by 35%. Over the whole period it spent 60% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Packard Motorcar Foundation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within MI. Charities of a similar size with the same main cause include Opera Memphis Inc ($1.1m), Flower City Arts Center Inc ($1.1m) and Dancing Grounds ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 52% of the total. Other salaries and wages came to $233k. At year end it held assets of $6.0m against liabilities of $56k, net assets of $6.0m. It reported 5 employees.