Monmouth County Arts Council Inc

Analysis

Monmouth County Arts Council Inc is a registered charity in United States, based in Red Bank, NJ. It received its IRS tax-exemption ruling in July 1999, 27 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, Monmouth County Arts Council Inc reported income of $870k and spending of $854k, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $468k to $870k (+86%), an average of +17% a year. The sharpest change came in the year to December 2022, when income rose by 163%. Over the whole period it spent 82% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Monmouth County Arts Council Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 81st percentile within NJ. Charities of a similar size with the same main cause include Childrens Museum of Oak Ridge ($870k), American Association of Community Theatre ($870k) and Canton Palace Theater Association ($870k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 7.6% of the total. Compensation of current officers, directors and key employees was $110k (13% of expenses). Other salaries and wages came to $356k. At year end it held assets of $1.1m against liabilities of $221k, net assets of $873k. It reported 8 employees.