Truro Center for the Arts at Castle Hill Inc

Analysis

Truro Center for the Arts at Castle Hill Inc is a registered charity in United States, based in Truro, MA. It received its IRS tax-exemption ruling in May 1973, 53 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, Truro Center for the Arts at Castle Hill Inc reported income of $1.5m and spending of $1.5m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $988k to $1.5m (+52%), an average of +11% a year. The sharpest change came in the year to December 2022, when income rose by 48%. Over the whole period it spent 78% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Truro Center for the Arts at Castle Hill Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within MA. Charities of a similar size with the same main cause include Historic Ships in Baltimore Inc ($1.5m), Senate Presidents Forum ($1.5m) and Charitable Friends of Digamma Building Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $196k (13% of expenses). Other salaries and wages came to $374k. At year end it held assets of $6.2m against liabilities of $289k, net assets of $5.9m. It reported 17 employees.