Milford Fine Arts Council Inc

Analysis

Milford Fine Arts Council Inc is a registered charity in United States, based in Milford, CT. It received its IRS tax-exemption ruling in October 1974, 52 years ago. 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 June 2023, Milford Fine Arts Council Inc reported income of $380k and spending of $340k, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $278k to $380k (+36%), an average of +8.1% a year. The sharpest change came in the year to June 2023, when income rose by 43%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Milford Fine Arts Council Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 63rd percentile within CT. Charities of a similar size with the same main cause include Market Street Railway Company ($380k), National Church Residences of ($380k) and Big Brothers Big Sisters of Summit Medina and Stark Counties Inc ($380k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 54% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $51k (15% of expenses). Other salaries and wages came to $98k. At year end it held assets of $533k against liabilities of $59k, net assets of $474k. It reported 5 employees.