Broome County Arts Council Inc

Analysis

Broome County Arts Council Inc is a registered charity in United States, based in Binghamton, NY. It received its IRS tax-exemption ruling in January 1987, 39 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 December 2023, Broome County Arts Council Inc reported income of $700k and spending of $679k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $344k to $700k (+104%), an average of +20% a year. The sharpest change came in the year to December 2020, when income rose by 45%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Broome County Arts Council Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 71st percentile within NY. Charities of a similar size with the same main cause include Wayne Montgomery Old Paths Tract Society ($700k), Strawtown Art & Garden Studio ($700k) and Friends of the Free State Capitol Inc ($700k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $67k (9.9% of expenses). Other salaries and wages came to $168k. At year end it held assets of $356k against liabilities of $48k, net assets of $308k. It reported 11 employees.