Krasl Art Center Inc

Analysis

Krasl Art Center Inc is a registered charity in United States, based in Saint Joseph, MI. It received its IRS tax-exemption ruling in June 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 September 2023, Krasl Art Center Inc reported income of $1.3m and spending of $1.5m, spending 115% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $1.7m to $1.3m (-25%), an average of -6.9% a year. The sharpest change came in the year to September 2021, when income rose by 68%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Krasl Art Center Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within MI. Charities of a similar size with the same main cause include Terrain Programs ($1.3m), Devils Tower Natural History Association ($1.3m) and Topeka Performing Arts Center Inc ($1.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 63% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $103k (6.9% of expenses). Other salaries and wages came to $507k. At year end it held assets of $10.2m against liabilities of $92k, net assets of $10.1m. It reported 22 employees.