Chestnut Creek School of the Arts

Analysis

Chestnut Creek School of the Arts is a registered charity in United States, based in Galax, VA. It received its IRS tax-exemption ruling in December 2009, 17 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, Chestnut Creek School of the Arts reported income of $329k and spending of $295k, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $324k to $329k (+1.7%), an average of +0.4% a year. The sharpest change came in the year to June 2021, when income rose by 17%. Over the whole period it spent 86% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Chestnut Creek School of the Arts sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 63rd percentile within VA. Charities of a similar size with the same main cause include Project Danztheatre Company ($329k), Territory NFP ($329k) and Jack Arts Inc ($329k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 57% of the total. At year end it held assets of $608k against liabilities of $1,387, net assets of $607k.