Parnassus Society

Analysis

Parnassus Society is a registered charity in United States, based in Irvine, CA. It received its IRS tax-exemption ruling in December 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, Parnassus Society reported income of $133k and spending of $129k, spending 96% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $1,380 to $133k (+9565%), an average of +9565% a year. The sharpest change came in the year to December 2023, when income rose by 9565%. Over the whole period it spent 162% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Parnassus Society sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 46th percentile within CA. Charities of a similar size with the same main cause include Southeast Innovation Institute ($133k), Lady Hoofers Tap Ensemble ($133k) and Bike City Theatre Company ($133k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $121k against liabilities of $0, net assets of $121k.