Prism Gay Men and Allies Chorus Corporation

Analysis

Prism Gay Men and Allies Chorus Corporation is a registered charity in United States, based in Royal Oak, MI. It received its IRS tax-exemption ruling in May 2023, 3 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 2024, Prism Gay Men and Allies Chorus Corporation reported income of $222k and spending of $156k, leaving 30% of income unspent that year. Across the 4 years on record, from June 2021 to June 2024, income grew from $705 to $222k (+31403%), an average of +580% a year. The sharpest change came in the year to June 2022, when income rose by 13667%. 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, Prism Gay Men and Allies Chorus Corporation sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 55th percentile within MI. Charities of a similar size with the same main cause include The Square Foot Theater Company Inc ($222k), Your Economic Success ($222k) and The Dalton Arts Project ($222k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 69% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $37k (24% of expenses). At year end it held assets of $92k against liabilities of $37k, net assets of $55k.