Arts North Carolina Inc

Analysis

Arts North Carolina Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in March 1982, 44 years ago. 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 June 2024, Arts North Carolina Inc reported income of $310k and spending of $302k, spending 97% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $258k to $310k (+20%), an average of +4.7% a year. The sharpest change came in the year to June 2021, when income rose by 18%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Arts North Carolina Inc sits at the 61st percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 61st percentile within NC. Charities of a similar size with the same main cause include Bellingham Christian School Foundation ($310k), Penndel Fire Co No 1 ($310k) and The John E Christian Family Memorial Trust Inc ($310k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 78% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $116k (38% of expenses). Other salaries and wages came to $64k. At year end it held assets of $204k against liabilities of $17k, net assets of $187k. It reported 3 employees.