Northwest Connecticut Association for the Arts Inc

Analysis

Northwest Connecticut Association for the Arts Inc is a registered charity in United States, based in Torrington, CT. It received its IRS tax-exemption ruling in December 1981, 45 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, Northwest Connecticut Association for the Arts Inc reported income of $3.3m and spending of $4.2m, spending 127% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.5m to $3.3m (+31%), an average of +9.5% a year. The sharpest change came in the year to June 2022, when income rose by 96%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Northwest Connecticut Association for the Arts 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 90th percentile, and in the 88th percentile within CT. Charities of a similar size with the same main cause include Arts Memphis ($3.3m), American Civil War Museum ($3.3m) and Samuel S Fleisher Art Memorial Inc ($3.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 36% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $91k (2.2% of expenses). Other salaries and wages came to $872k. At year end it held assets of $10.1m against liabilities of $2.2m, net assets of $7.9m. It reported 44 employees.