Somerset County Cultural Arts Center Inc

Analysis

Somerset County Cultural Arts Center Inc is a registered charity in United States, based in Bound Brook, NJ. It received its IRS tax-exemption ruling in April 2023, 3 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 August 2022, Somerset County Cultural Arts Center Inc reported income of $375k and spending of $542k, spending 144% of what it took in. Across the 4 years on record, from August 2019 to August 2022, income grew from $110k to $375k (+239%), an average of +50% a year. The sharpest change came in the year to August 2021, when income rose by 487%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Somerset County Cultural Arts Center Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 71st percentile within NJ. Charities of a similar size with the same main cause include Close Encounters with Music Inc ($375k), Calumet Theatre Company ($375k) and Association for Theatre in Higher Education ($375k).

On its Form 990 for the period ending August 2022, revenue came from contributions and grants 35% and program service revenue 62% of the total. Other salaries and wages came to $53k. At year end it held assets of $1.5m against liabilities of -$7,016, net assets of $1.5m. It reported 2 employees.