Mid Atlantic Center for the Arts

Analysis

Mid Atlantic Center for the Arts is a registered charity in United States, based in Cape May, NJ. It received its IRS tax-exemption ruling in April 1971, 55 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, Mid Atlantic Center for the Arts reported income of $4.4m and spending of $3.7m, spending 86% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $3.7m to $4.4m (+19%), an average of +3.6% a year. The sharpest change came in the year to December 2021, when income rose by 120%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Mid Atlantic Center for the Arts sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within NJ. Charities of a similar size with the same main cause include Jamestown Yorktown Foundation Inc ($4.4m), Welcome America Inc ($4.4m) and The National Cowgirl Museum and Hall of Fame Inc ($4.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 18% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $295k (7.9% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $5.8m against liabilities of $650k, net assets of $5.2m. It reported 156 employees.