Tapestry Folkdance Center

Analysis

Tapestry Folkdance Center is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in December 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Tapestry Folkdance Center reported income of $318k and spending of $268k, spending 84% of its income. Across the 5 years on record, from June 2019 to June 2024, income grew from $212k to $318k (+50%), an average of +11% a year. The sharpest change came in the year to June 2024, when income rose by 22%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Tapestry Folkdance Center sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 61st percentile within MN. Charities of a similar size with the same main cause include Arcade Comedy Theater Inc ($318k), Harps Foundation ($318k) and Sri Veda Vidya Peetham ($318k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 35% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $44k (17% of expenses). Other salaries and wages came to $43k. At year end it held assets of $571k against liabilities of $22k, net assets of $549k. It reported 4 employees.