Norfolk Forum Incorporated

Analysis

Norfolk Forum Incorporated is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in January 2020, 6 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 2023, Norfolk Forum Incorporated reported income of $387k and spending of $336k, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $545k to $387k (-29%), an average of -8.2% a year. The sharpest change came in the year to June 2022, when income rose by 42%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Norfolk Forum Incorporated sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 66th percentile within VA. Charities of a similar size with the same main cause include Pulse Productions ($387k), The Friends of the Golden Regiment ($387k) and Saugus Community Television Inc ($386k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 55% and program service revenue 43% of the total. At year end it held assets of $452k against liabilities of $37k, net assets of $415k.