Philomatheon Society of the Blind of Canton Ohio Inc

Analysis

Philomatheon Society of the Blind of Canton Ohio Inc is a registered charity in United States, based in Canton, OH. It received its IRS tax-exemption ruling in January 1953, 73 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, Philomatheon Society of the Blind of Canton Ohio Inc reported income of $85k and spending of $102k, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $118k to $85k (-28%), an average of -7.8% a year. The sharpest change came in the year to December 2020, when income dropped by 22%. Over the whole period it spent 117% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Philomatheon Society of the Blind of Canton Ohio Inc sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 33rd percentile within OH. Charities of a similar size with the same main cause include City of the Lord Inc ($85k), Bee Athletic Boosters Club ($85k) and Pet Responsibility Committee Inc ($85k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $7,328 (7.2% of expenses). Other salaries and wages came to $11k. At year end it held assets of $1.3m against liabilities of $3,477, net assets of $1.3m. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.