River Arts Inc

Analysis

River Arts Inc is a registered charity in United States, based in Damariscotta, ME. It received its IRS tax-exemption ruling in June 1989, 37 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, River Arts Inc reported income of $104k and spending of $81k, leaving 23% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $90k to $104k (+16%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 16%. Over the whole period it spent 81% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, River Arts Inc sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 32nd percentile within ME. Charities of a similar size with the same main cause include Arts Council of Brownwood ($104k), Washington County Historical Society-Inc ($104k) and Norfolk Society of Arts ($104k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 7.2% and program service revenue 63% of the total. At year end it held assets of $108k against liabilities of $0, net assets of $108k.