Tibbits Opera Foundation and Arts Council Inc

Analysis

Tibbits Opera Foundation and Arts Council Inc is a registered charity in United States, based in Coldwater, MI. It received its IRS tax-exemption ruling in October 1965, 61 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Tibbits Opera Foundation and Arts Council Inc reported income of $1.5m and spending of $1.1m, leaving 26% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $913k to $1.5m (+66%), an average of +14% a year. The sharpest change came in the year to September 2023, when income rose by 47%. Over the whole period it spent 82% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Tibbits Opera Foundation and Arts Council Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within MI. Charities of a similar size with the same main cause include The Clemente Collection at Engine House 25 ($1.5m), Texas Tactical Police Officers Association ($1.5m) and Auburn Public Theater Inc ($1.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 67% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $50k (4.4% of expenses). Other salaries and wages came to $382k. At year end it held assets of $2.9m against liabilities of $304k, net assets of $2.6m. It reported 55 employees.