Louisville Folk School Inc

Analysis

Louisville Folk School Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in November 2019, 7 years ago. 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, Louisville Folk School Inc reported income of $324k and spending of $269k, spending 83% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $204k to $324k (+59%), an average of +58% a year. The sharpest change came in the year to December 2023, when income rose by 59%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Louisville Folk School 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 63rd percentile, and in the 63rd percentile within KY. Charities of a similar size with the same main cause include Chariton County Sheltered Workshop ($324k), Sent to Serve Ministries Inc ($324k) and Dr Martin Luther King Jr Parade and Festivities Committee Inc ($324k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 50% of the total. Compensation of current officers, directors and key employees was $72k (27% of expenses). Other salaries and wages came to $131k. At year end it held assets of $138k against liabilities of $30k, net assets of $108k. It reported 2 employees.