Friends of the Coronado

Analysis

Friends of the Coronado is a registered charity in United States, based in Rockford, IL. It received its IRS tax-exemption ruling in April 1998, 28 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, Friends of the Coronado reported income of $125k and spending of $157k, spending 126% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $255k to $125k (-51%), an average of -16% a year. The sharpest change came in the year to December 2023, when income dropped by 46%. Over the whole period it spent 72% 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 Coronado sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 44th percentile within IL. Charities of a similar size with the same main cause include Irish Cultural Center Hudson Valley Inc ($125k), Dance Notation Bureau Inc ($125k) and Tuttle Band Boosters ($125k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $83k (53% of expenses). At year end it held assets of $1.2m against liabilities of $12k, net assets of $1.2m. It reported 1 employees.