Michigans Thanksgiving Parade Foundation

Analysis

Michigans Thanksgiving Parade Foundation is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in August 1983, 43 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 January 2024, Michigans Thanksgiving Parade Foundation reported income of $2.8m and spending of $2.9m, spending 104% of its income. Across the 5 years on record, from January 2020 to January 2024, income fell from $3.5m to $2.8m (-21%), an average of -5.7% a year. The sharpest change came in the year to January 2022, when income dropped by 21%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Michigans Thanksgiving Parade Foundation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within MI. Charities of a similar size with the same main cause include Bonnet House Inc ($2.8m), Arbogast Performing Arts Center ($2.8m) and Young Audiences of New Jersey ($2.8m).

On its Form 990 for the period ending January 2024, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $1.1m (37% of expenses). Other salaries and wages came to $903k. At year end it held assets of $8.7m against liabilities of $0, net assets of $8.7m. It reported 34 employees.