Chesterfield Cultural Arts Foundation

Analysis

Chesterfield Cultural Arts Foundation is a registered charity in United States, based in Chester, VA. It received its IRS tax-exemption ruling in September 2003, 23 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, Chesterfield Cultural Arts Foundation reported income of $615k and spending of $704k, spending 115% of what it took in. Across the 5 years on record, from December 2019 to June 2023, income grew from $128k to $615k (+380%), an average of +48% a year. The sharpest change came in the year to June 2021, when income rose by 1033%. Over the whole period it spent 180% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Chesterfield Cultural Arts Foundation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within VA. Charities of a similar size with the same main cause include Chopin Foundation of the United States Inc ($615k), Design Museum of Chicago ($615k) and American Fund for Westminster Abbey ($615k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 44% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $91k (13% of expenses). Other salaries and wages came to $188k. At year end it held assets of $1.3m against liabilities of $578k, net assets of $680k. It reported 30 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.