Concord Art Association

Analysis

Concord Art Association is a registered charity in United States, based in Concord, MA. It received its IRS tax-exemption ruling in August 1969, 57 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, Concord Art Association reported income of $843k and spending of $564k, leaving 33% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $510k to $843k (+65%), an average of +13% a year. The sharpest change came in the year to June 2022, when income rose by 48%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Concord Art Association 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 77th percentile within MA. Charities of a similar size with the same main cause include Urbana Champaign Independent Media Center ($843k), Marblehead Museum & Historical Society Inc ($843k) and Arts Council of Brazos Valley ($842k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $90k (16% of expenses). Other salaries and wages came to $160k. At year end it held assets of $3.0m against liabilities of $88k, net assets of $3.0m. It reported 7 employees.