Southerly

Analysis

Southerly is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in October 2020, 6 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, Southerly reported income of $81k and spending of $160k, spending 197% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $194k to $81k (-58%), an average of -58% a year. The sharpest change came in the year to December 2023, when income dropped by 58%. Over the whole period it spent 127% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Southerly sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 30th percentile within KY. Charities of a similar size with the same main cause include Peter Foley Music Project Inc ($81k), FHS Music Foundation ($81k) and Burritt Museum Foundation Inc ($81k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $66k against liabilities of $0, net assets of $66k.