Hastings Art Council

Analysis

Hastings Art Council is a registered charity in United States, based in Hastings, MN. It received its IRS tax-exemption ruling in October 2011, 15 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 December 2023, Hastings Art Council reported income of $68k and spending of $59k, spending 86% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $72k to $68k (-5.3%), an average of -5.3% a year. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hastings Art Council sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 24th percentile within MN. Charities of a similar size with the same main cause include Franklin County Historical Society ($68k), Wasatch County Arts Council ($68k) and World Swing Dance Council Inc ($68k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 24% of the total. At year end it held assets of $54k against liabilities of $2,920, net assets of $51k.