Fine Arts Work Center in Provincetown Inc

Analysis

Fine Arts Work Center in Provincetown Inc is a registered charity in United States, based in Provincetown, MA. It received its IRS tax-exemption ruling in November 1971, 55 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 September 2023, Fine Arts Work Center in Provincetown Inc reported income of $3.1m and spending of $2.6m, spending 85% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.8m to $3.1m (+67%), an average of +14% a year. The sharpest change came in the year to September 2021, when income rose by 34%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fine Arts Work Center in Provincetown Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within MA. Charities of a similar size with the same main cause include Arts in Stark ($3.1m), Eddy County Fair Association ($3.1m) and Winchester Community Music School Trust ($3.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 70% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $158k (6.1% of expenses). Other salaries and wages came to $700k. It paid $52k in professional fundraising fees. At year end it held assets of $8.5m against liabilities of $1.6m, net assets of $6.9m. It reported 19 employees.