Tri-County Arts Council Inc

Analysis

Tri-County Arts Council Inc is a registered charity in United States, based in Olean, NY. It received its IRS tax-exemption ruling in February 1998, 28 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, Tri-County Arts Council Inc reported income of $269k and spending of $229k, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $368k to $269k (-27%), an average of -7.6% a year. The sharpest change came in the year to December 2021, when income rose by 98%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Tri-County Arts Council Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 57th percentile within NY. Charities of a similar size with the same main cause include Continuing the Legacy Dance Foundation ($269k), Society for the Study of Amphibian and Reptiles ($269k) and Aurora Music Foundation Inc ($269k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $63k (28% of expenses). Other salaries and wages came to $42k. At year end it held assets of $317k against liabilities of $203k, net assets of $114k. It reported 7 employees.