Lake Whitney Arts Association

Analysis

Lake Whitney Arts Association is a registered charity in United States, based in Whitney, TX. It received its IRS tax-exemption ruling in June 2004, 22 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lake Whitney Arts Association reported income of $71k and spending of $36k, leaving 49% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $45k to $71k (+58%), an average of +58% a year. The sharpest change came in the year to December 2023, when income rose by 58%. Over the whole period it spent 63% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lake Whitney Arts Association sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 29th percentile within TX. Charities of a similar size with the same main cause include Broken Arrow Community Playhouse ($71k), Saweraa ($71k) and Tea Party Magazine ($71k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 53% of the total. At year end it held assets of $173k against liabilities of $0, net assets of $173k.