Newton Arts Center Inc

Analysis

Newton Arts Center Inc is a registered charity in United States, based in Newtonville, MA. It received its IRS tax-exemption ruling in November 1983, 43 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, Newton Arts Center Inc reported income of $2.0m and spending of $2.1m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.2m to $2.0m (+68%), an average of +14% a year. The sharpest change came in the year to June 2022, when income rose by 45%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Newton Arts Center Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MA. Charities of a similar size with the same main cause include Featherstone Center for the Arts Inc ($2.0m), National Academy of Sciences Retire Welfare Benefit Plan TR ($2.0m) and Inter District Committee for Project Oceanology ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 40% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $104k (5.0% of expenses). Other salaries and wages came to $847k. At year end it held assets of $1.8m against liabilities of $1.1m, net assets of $694k. It reported 87 employees.