Philos Project Inc

Analysis

Philos Project Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 2015, 11 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, Philos Project Inc reported income of $7.5m and spending of $8.4m, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.6m to $7.5m (+32%), an average of +7.2% a year. The sharpest change came in the year to December 2022, when income rose by 617%. 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, Philos Project Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Wamc ($7.4m), SFPBS Foundation Inc ($7.5m) and International African American Museum ($7.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 6.0% of the total. Compensation of current officers, directors and key employees was $381k (4.5% of expenses). Other salaries and wages came to $2.4m. It paid $2,671 in professional fundraising fees. At year end it held assets of $1.7m against liabilities of $519k, net assets of $1.2m. It reported 39 employees.