Fptower Inc

Analysis

Fptower Inc is a registered charity in United States, based in Southport, NC. It received its IRS tax-exemption ruling in January 2024, 2 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, Fptower Inc reported income of $209k and spending of $177k, spending 85% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $135k to $209k (+55%), an average of +16% a year. The sharpest change came in the year to December 2021, when income rose by 84%. 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, Fptower Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 52nd percentile within NC. Charities of a similar size with the same main cause include Ovation Theatre ($209k), Inland Valley Classical Ballet Theater ($209k) and Installation Gallery ($209k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $37k (21% of expenses). At year end it held assets of $73k against liabilities of $2,971, net assets of $70k. It reported 1 employees.