Friends of the Goss Opera House Inc

Analysis

Friends of the Goss Opera House Inc is a registered charity in United States, based in Watertown, SD. It received its IRS tax-exemption ruling in February 2018, 8 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Friends of the Goss Opera House Inc reported income of $872k and spending of $936k, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $912k to $872k (-4.4%), an average of -1.1% a year. The sharpest change came in the year to December 2020, when income rose by 144%. Over the whole period it spent 50% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Friends of the Goss Opera House Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 77th percentile within SD. Charities of a similar size with the same main cause include M-Ark Project Inc ($871k), Aspen Adult Services ($873k) and Barksdale Forward Inc ($871k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 54% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $102k (11% of expenses). Other salaries and wages came to $118k. At year end it held assets of $4.6m against liabilities of $309k, net assets of $4.3m. It reported 11 employees.