Lowell Art Association

Analysis

Lowell Art Association is a registered charity in United States, based in Lowell, MA. It received its IRS tax-exemption ruling in March 1968, 58 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 June 2023, Lowell Art Association reported income of $400k and spending of $276k, leaving 31% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $235k to $400k (+70%), an average of +14% a year. The sharpest change came in the year to June 2021, when income rose by 1204%. Over the whole period it spent 21% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lowell Art Association sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 67th percentile within MA. Charities of a similar size with the same main cause include European American Musical Alliance Inc ($400k), LCHS Choral Parents Association ($400k) and Tapology Inc ($400k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 65% and program service revenue 2.2% of the total. Compensation of current officers, directors and key employees was $90k (33% of expenses). Other salaries and wages came to $40k. At year end it held assets of $6.4m against liabilities of $19k, net assets of $6.3m. It reported 2 employees.