Tall Ship Providence Foundation

Analysis

Tall Ship Providence Foundation is a registered charity in United States, based in Alexandria, VA. It received its IRS tax-exemption ruling in August 2017, 9 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 December 2023, Tall Ship Providence Foundation reported income of $1.2m and spending of $1.7m, spending 141% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $329k to $1.2m (+256%), an average of +37% a year. The sharpest change came in the year to December 2022, when income rose by 361%. Over the whole period it spent 64% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Tall Ship Providence Foundation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within VA. Charities of a similar size with the same main cause include Misameach ($1.2m), Colorado Conservatory of Dance Inc ($1.2m) and American Corporation of the Arts ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $162k (9.8% of expenses). Other salaries and wages came to $598k. At year end it held assets of $7.4m against liabilities of $4.4m, net assets of $3.0m. It reported 24 employees.