Palmetto Opera

Analysis

Palmetto Opera is a registered charity in United States, based in Columbia, SC. It received its IRS tax-exemption ruling in March 2002, 24 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, Palmetto Opera reported income of $76k and spending of $100k, spending 131% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $216k to $76k (-65%), an average of -41% a year. The sharpest change came in the year to December 2022, when income dropped by 71%. Over the whole period it spent 72% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Palmetto Opera sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 36th percentile within SC. Charities of a similar size with the same main cause include South Coast Code ($76k), Young Voices of Austin ($76k) and Shine House ($76k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 45% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $1,750 (1.8% of expenses). Other salaries and wages came to $7,222. At year end it held assets of $164k against liabilities of $0, net assets of $164k.