Iredell Arts Council Inc

Analysis

Iredell Arts Council Inc is a registered charity in United States, based in Statesville, NC. It received its IRS tax-exemption ruling in June 1976, 50 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 June 2023, Iredell Arts Council Inc reported income of $261k and spending of $229k, spending 88% of its income. Across the 3 years on record, from June 2021 to June 2023, income fell from $293k to $261k (-11%), an average of -5.6% a year. The sharpest change came in the year to June 2023, when income rose by 111%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Iredell Arts Council Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 57th percentile within NC. Charities of a similar size with the same main cause include Tinker Swiss Cottage Inc ($261k), Valley Performing Arts Council ($261k) and Knights of Indulgence Theatre United States ($261k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 77% and program service revenue 23% of the total. Other salaries and wages came to $32k. At year end it held assets of $105k against liabilities of $2,415, net assets of $103k. It reported 2 employees.