The Arts Council of the Southern Finger Lakes Inc

Analysis

The Arts Council of the Southern Finger Lakes Inc is a registered charity in United States, based in Corning, NY. It received its IRS tax-exemption ruling in January 1973, 53 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, The Arts Council of the Southern Finger Lakes Inc reported income of $1.3m and spending of $837k, leaving 33% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $914k to $1.3m (+37%), an average of +8.3% a year. The sharpest change came in the year to June 2022, when income rose by 39%. Over the whole period it spent 71% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Arts Council of the Southern Finger Lakes Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 78th percentile within NY. Charities of a similar size with the same main cause include Historic Houston ($1.3m), Outside the Frame ($1.3m) and Beck Foundation of Dsaet ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 2.1% of the total. Compensation of current officers, directors and key employees was $76k (9.0% of expenses). Other salaries and wages came to $234k. At year end it held assets of $2.2m against liabilities of $144k, net assets of $2.0m. It reported 7 employees.