Laurel Arts

Analysis

Laurel Arts is a registered charity in United States, based in Somerset, PA. It received its IRS tax-exemption ruling in November 1975, 51 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, Laurel Arts reported income of $474k and spending of $508k, spending 107% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $478k to $474k (-0.9%), an average of -0.2% a year. The sharpest change came in the year to August 2021, when income rose by 45%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Laurel Arts sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 67th percentile within PA. Charities of a similar size with the same main cause include Fire Museum of Maryland Inc ($474k), Old Town Music Hall Inc ($474k) and Sorg Opera Revitalization Group LLC ($474k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 21% and program service revenue 56% of the total. Compensation of current officers, directors and key employees was $31k (6.2% of expenses). Other salaries and wages came to $203k. At year end it held assets of $545k against liabilities of $260k, net assets of $285k. It reported 23 employees.