Society for Preservation & Encrgmnt of Barbershop Quartet

Analysis

Society for Preservation & Encrgmnt of Barbershop Quartet is a registered charity in United States, based in Nashville, TN. It received its IRS tax-exemption ruling in May 1946, 80 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 December 2022, Society for Preservation & Encrgmnt of Barbershop Quartet reported income of $4.4m and spending of $5.3m, spending 122% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $5.1m to $4.4m (-15%), an average of -5.3% a year. The sharpest change came in the year to December 2020, when income dropped by 26%. Over the whole period it spent 120% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Society for Preservation & Encrgmnt of Barbershop Quartet sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within TN. Charities of a similar size with the same main cause include Education Through Music Inc ($4.3m), Peoples Light & Theatre Co ($4.4m) and Massachusetts Foundation for Humanities & Public Policy Inc ($4.3m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 26% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $369k (6.9% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $4.2m against liabilities of $4.8m, net assets of -$600k. It reported 33 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.