Village Center for the Arts Inc

Analysis

Village Center for the Arts Inc is a registered charity in United States, based in New Milford, CT. It received its IRS tax-exemption ruling in November 1991, 35 years ago. 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, Village Center for the Arts Inc reported income of $307k and spending of $366k, spending 119% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $315k to $307k (-2.7%), an average of -0.7% a year. The sharpest change came in the year to December 2021, when income rose by 120%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Village Center for the Arts Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 59th percentile within CT. Charities of a similar size with the same main cause include West Lebanon Volunteer Firemen Inc ($307k), Habitat for Humanity International Inc ($307k) and Southgate Youth Football Inc ($307k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $68k (19% of expenses). Other salaries and wages came to $123k. At year end it held assets of $219k against liabilities of $139k, net assets of $80k. It reported 15 employees.