Newburyport Art Association Inc

Analysis

Newburyport Art Association Inc is a registered charity in United States, based in Newburyport, MA. It received its IRS tax-exemption ruling in February 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Newburyport Art Association Inc reported income of $343k and spending of $412k, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $310k to $343k (+11%), an average of +2.6% a year. The sharpest change came in the year to December 2021, when income rose by 201%. Over the whole period it spent 110% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Newburyport Art Association Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 66th percentile within MA. Charities of a similar size with the same main cause include Rochester Construction Training Center ($343k), Zadock Pratt Museum Inc ($343k) and Sculpture at the River Market Inc ($343k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 60% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $68k (16% of expenses). Other salaries and wages came to $159k. At year end it held assets of $569k against liabilities of $25k, net assets of $544k. It reported 13 employees.