Center for Maine Contemporary Art

Analysis

Center for Maine Contemporary Art is a registered charity in United States, based in Rockland, ME. It received its IRS tax-exemption ruling in May 1968, 58 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, Center for Maine Contemporary Art reported income of $838k and spending of $972k, spending 116% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income fell from $1.1m to $838k (-25%), an average of -9.0% a year. The sharpest change came in the year to March 2021, when income dropped by 32%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Center for Maine Contemporary Art sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 74th percentile within ME. Charities of a similar size with the same main cause include Historic West Bend Theatre ($838k), Childrens Museum of the Desert ($838k) and Jefferson Center for Learning & the Arts ($838k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 58% and program service revenue 5.6% of the total. Other salaries and wages came to $403k. At year end it held assets of $5.5m against liabilities of $762k, net assets of $4.8m. It reported 19 employees.