Vermont Council on the Arts Inc

Analysis

Vermont Council on the Arts Inc is a registered charity in United States, based in Montpelier, VT. It received its IRS tax-exemption ruling in April 1967, 59 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 June 2023, Vermont Council on the Arts Inc reported income of $9.7m and spending of $9.5m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.8m to $9.7m (+442%), an average of +53% a year. The sharpest change came in the year to June 2023, when income rose by 120%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Vermont Council on the Arts Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within VT. Charities of a similar size with the same main cause include Northlight Theatre Inc ($9.7m), Portland Va Research Foundation Inc ($9.7m) and Great Lakes Museum of Science Environment and Technology ($9.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $183k (1.9% of expenses). Other salaries and wages came to $605k. At year end it held assets of $3.7m against liabilities of $2.4m, net assets of $1.3m. It reported 12 employees.