Essex Art Center Inc

Analysis

Essex Art Center Inc is a registered charity in United States, based in Lawrence, MA. It received its IRS tax-exemption ruling in February 1995, 31 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, Essex Art Center Inc reported income of $564k and spending of $616k, spending 109% of what it took in. Across the 4 years on record, from September 2019 to September 2023, income grew from $442k to $564k (+27%), an average of +8.4% a year. The sharpest change came in the year to September 2022, when income rose by 45%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Essex Art Center Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within MA. Charities of a similar size with the same main cause include Passage Theatre Company Inc ($564k), Korsa Musical Theater ($564k) and Museum of American Porcelain Art ($563k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 61% and program service revenue 34% of the total. Other salaries and wages came to $230k. At year end it held assets of $1.0m against liabilities of $220k, net assets of $800k. It reported 11 employees.