Portrait Society of America Inc

Analysis

Portrait Society of America Inc is a registered charity in United States, based in Tallahassee, FL. It received its IRS tax-exemption ruling in February 1999, 27 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 2022, Portrait Society of America Inc reported income of $870k and spending of $746k, spending 86% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $717k to $870k (+21%), an average of +6.7% a year. The sharpest change came in the year to December 2022, when income rose by 47%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Portrait Society of America Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 80th percentile within FL. Charities of a similar size with the same main cause include Charlottesville Symphony Society ($870k), Nepali Cultural Center Inc ($871k) and Confluences ($870k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 40% and program service revenue 60% of the total. Compensation of current officers, directors and key employees was $154k (21% of expenses). Other salaries and wages came to $102k. At year end it held assets of $681k against liabilities of $126k, net assets of $555k. It reported 5 employees.