Palaver Strings Incorporated

Analysis

Palaver Strings Incorporated is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in November 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 June 2023, Palaver Strings Incorporated reported income of $628k and spending of $599k, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $218k to $628k (+188%), an average of +30% a year. The sharpest change came in the year to June 2022, when income rose by 61%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Palaver Strings Incorporated sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 69th percentile within ME. Charities of a similar size with the same main cause include Bellevue Literary Press Inc ($628k), Connecticut Electric Railway Association Incorporated ($628k) and Aamc Foundation ($628k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 83% and program service revenue 17% of the total. Other salaries and wages came to $294k. At year end it held assets of $165k against liabilities of $65k, net assets of $100k. It reported 15 employees.