Norman Firehouse Art Center Inc

Analysis

Norman Firehouse Art Center Inc is a registered charity in United States, based in Norman, OK. It received its IRS tax-exemption ruling in May 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Norman Firehouse Art Center Inc reported income of $407k and spending of $393k, spending 97% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $326k to $407k (+25%), an average of +5.7% a year. The sharpest change came in the year to August 2021, when income rose by 49%. 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, Norman Firehouse Art Center Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 68th percentile within OK. Charities of a similar size with the same main cause include Belknap Mill Society Inc ($407k), Glendon Association ($407k) and Arts Council of Pendleton ($407k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 59% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $87k (22% of expenses). Other salaries and wages came to $106k. At year end it held assets of $670k against liabilities of $29k, net assets of $641k. It reported 10 employees.