Elegba Folklore Society Incorporated

Analysis

Elegba Folklore Society Incorporated is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in October 1995, 31 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 2023, Elegba Folklore Society Incorporated reported income of $329k and spending of $265k, spending 80% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $217k to $329k (+52%), an average of +23% a year. The sharpest change came in the year to December 2023, when income rose by 42%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Elegba Folklore Society Incorporated sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 63rd percentile within VA. Charities of a similar size with the same main cause include North Carolina Pottery Museum Inc ($329k), Gallup Public Radio ($329k) and Elmhurst Heritage Foundation ($329k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 33% of the total. At year end it held assets of $181k against liabilities of $0, net assets of $181k.