Overview
What is Philadelphia Folksong Society Inc?
Philadelphia Folksong Society Inc, based in Philadelphia, Pennsylvania, is a dedicated nonprofit organization with a primary focus on preserving, promoting, and securing the future of folk music and related forms of expression. The society achieves this through education, presentation, and participation. The most prominent event they organize is the Philadelphia Folk Festival, which is the oldest continuously run outdoor music festival in North America. Held annually in August, this event showcases over 100 artists across various music genres such as alternative folk, Americana, bluegrass, blues, cajun, Celtic, country folk, indie folk, jazz, native, singer/songwriter, world, and more. Moreover, Philadelphia Folksong Society Inc offers a wide array of educational opportunities through workshops and presentations, allowing artists to share their history and oral storytelling. The organization currently employs 5 individuals.
Official website here: www.pfs.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 66%)
The Philadelphia Folksong Society Inc has received a Two-Star rating from Charity Navigator due to an overall score of 66%. While the organization demonstrates strong governance with 100% of its board members being independent and having appropriate policies in place, there are notable weaknesses in its financial oversight. The organization has a high liabilities to assets ratio of 138.13%, which raises concerns about financial stability.
Despite the financial challenges, the Society excels in its program expense ratio at 88.38%, indicating that a significant portion of its budget is directed toward its programs rather than administrative costs. This commitment to programmatic spending is commendable and highlights the organization's dedication to its mission. However, the lack of publicly available financial statements and a missing tax form on its website signify areas needing improvement in transparency.
In summary, while the Philadelphia Folksong Society Inc shows positive attributes in governance and program spending, it must address its financial health and enhance transparency to strengthen its overall rating and effectiveness in serving its community.
This AI summary has been generated from information found on Charity Navigator.
Is Philadelphia Folksong Society Inc legitimate?
Philadelphia Folksong Society Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Philadelphia Folksong Society Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $88,269
Professional Fundraising Fees: $0
Other Salaries and Wages: $68,714
For more financial information, click here
Official website here: www.pfs.org
What is the mission statement of Philadelphia Folksong Society Inc?
The Philadelphia Folksong Society (PFS) is committed to preserving the history of folk music and related forms of expression, promoting its current state, and ensuring its future through various educational, presentation, and participatory means. Their mission is primarily focused on preserving folk music's heritage, showcasing its present-day manifestations, and safeguarding its future evolution. PFS achieves this goal by executing programs such as the Philadelphia Folk Festival, the oldest continuously run outdoor music festival in North America, which features a diverse range of artists and genres, including alternative folk, blues, and world music, among others. The society also offers educational opportunities, such as workshops and artist presentations, to promote playing, songwriting, and the understanding of folk music's history and traditions.
Official website here: www.pfs.org
Who is the CEO of Philadelphia Folksong Society Inc?
Miles Thompson is the President of Philadelphia Folksong Society Inc.
Official website here: www.pfs.org
What is the revenue of Philadelphia Folksong Society Inc?
Philadelphia Folksong Society Inc's revenue in 2022 was $1,501,253.
Official website here: www.pfs.org
Who are the executives of Philadelphia Folksong Society Inc and what are their salaries?
The average compensation at Philadelphia Folksong Society Inc during 2022 was $31,397. There are 5 employees and 1472 volunteers at Philadelphia Folksong Society Inc.
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- Compensation: $88,269
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Official website here: www.pfs.org
Where can I find the form 990 for Philadelphia Folksong Society Inc?
Philadelphia Folksong Society Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.pfs.org
Learn more at the official website: www.pfs.org
Mission Statement of Philadelphia Folksong Society Inc
The Philadelphia Folksong Society Inc, in its mission, is committed to preserving the rich history and fostering the growth of folk music and related forms of expression. Through their educational, presentation, and participatory initiatives, they aim to safeguard the legacy of folk music and promote its current manifestations. The organization seeks to ensure the continuity of this musical tradition, providing opportunities for both learning and engagement for a wide array of audiences.
One of the primary ways Philadelphia Folksong Society Inc achieves this mission is through the Philadelphia Folk Festival, an annual event that showcases over 100 artists spanning various genres such as alternative folk, Americana, bluegrass, blues, Cajun, Celtic, country, indie folk, jazz, native, singer/songwriter, world, and more. Beyond the festival, the organization offers numerous educational opportunities, including workshops and artist presentations, which delve into the history, playing, songwriting, and storytelling aspects of folk music. These educational programs not only enrich the understanding of folk music but also encourage active participation in its preservation and evolution.
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Impact
October, 2024
The Philadelphia Folksong Society (PFS) plays a vital role in the cultural landscape of Philadelphia and beyond, focusing on the preservation and promotion of folk music and related forms of expression. It is best known for the Philadelphia Folk Festival, the oldest continuously running outdoor music festival in North America. This festival not only showcases over 100 diverse artists but also embraces a variety of musical genres, including alternative folk, Americana, bluegrass, blues, Cajun, Celtic, country folk, indie folk, jazz, singer/songwriter, and world music.
Through its educational initiatives, PFS offers workshops and presentations that delve into music history, songwriting, and traditional performance, fostering a deeper understanding and appreciation of folk music among participants. Such educational opportunities inspire creativity and encourage individuals to engage with this rich musical heritage actively. By connecting artists with audiences and facilitating participation in the folk music community, the PFS helps to secure the future of these expressive forms, ensuring they continue to thrive and resonate with new generations.
This information is meant to be a general summary of Philadelphia Folksong Society Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $1,159,027
- Gross Receipts: $1,501,253
Assets and Liabilities:
- Total Assets: $146,242
- Total Liabilities: $202,007
- Net Assets: -$55,765
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FESTIVAL AND OTHER TICKETED EVENTS
Revenue
$1,086,559
MEMBERSHIP DUES
Revenue
$44,018
VENDOR & CONCESSION REVENUE
Revenue
$28,450
Organization Details
Founding Year
1957
Phone
(267) 230-8857Principal Officer
Miles Thompson
Main Address
6711 GERMANTOWN AVENUE PO BOX 4959, PHILADELPHIA, PA, 19119
Website
www.pfs.orgNTEE Category
Code: A200 - Arts
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