Nantucket Arts Council Inc

Analysis

Nantucket Arts Council Inc is a registered charity in United States, based in Nantucket, MA. It received its IRS tax-exemption ruling in October 1974, 52 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, Nantucket Arts Council Inc reported income of $86k and spending of $100k, spending 117% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $97k to $86k (-11%), an average of -3.0% a year. The sharpest change came in the year to June 2022, when income rose by 48%. Over the whole period it spent 114% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Nantucket Arts Council Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 40th percentile within MA. Charities of a similar size with the same main cause include Frank M Hardy Trust Uw ($86k), Collingswood Athletic Hall of Fame ($86k) and Blue Star Salute Foundation Inc ($86k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 54% and program service revenue 1.9% of the total. Other salaries and wages came to $25k. At year end it held assets of $624k against liabilities of $1,390, net assets of $623k.