Maine Fiberarts

Analysis

Maine Fiberarts is a registered charity in United States, based in Brunswick, ME. It received its IRS tax-exemption ruling in March 2002, 24 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 December 2023, Maine Fiberarts reported income of $60k and spending of $70k, spending 117% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $80k to $60k (-24%), an average of -24% a year. The sharpest change came in the year to December 2023, when income dropped by 24%. Over the whole period it spent 111% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Maine Fiberarts sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 17th percentile within ME. Charities of a similar size with the same main cause include Fort Loramie Historical Association Incorporated ($60k), Sweet Adelines International ($60k) and Chenega Heritage Inc ($60k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 2.6% of the total. At year end it held assets of $20k against liabilities of $0, net assets of $20k.