Marblehead Arts Association

Analysis

Marblehead Arts Association is a registered charity in United States, based in Marblehead, MA. It received its IRS tax-exemption ruling in May 1953, 73 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 May 2024, Marblehead Arts Association reported income of $236k and spending of $227k, spending 96% of its income. Across the 6 years on record, from May 2019 to May 2024, income grew from $215k to $236k (+9.6%), an average of +1.9% a year. The sharpest change came in the year to May 2021, when income rose by 187%. Over the whole period it spent 71% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Marblehead Arts Association sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 60th percentile within MA. Charities of a similar size with the same main cause include Richards Institute of Education Through Music ($236k), LA Rita Performing Arts Theatre Inc ($236k) and Destin Fishing Museum Foundation Inc ($236k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 67% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $52k (23% of expenses). Other salaries and wages came to $60k. At year end it held assets of $1.0m against liabilities of $38k, net assets of $985k. It reported 7 employees.