Crosstown Arts

Analysis

Crosstown Arts is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in September 2010, 16 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 April 2023, Crosstown Arts reported income of $4.9m and spending of $6.1m, spending 124% of what it took in. Across the 5 years on record, from April 2019 to April 2023, income fell from $7.0m to $4.9m (-30%), an average of -8.4% a year. The sharpest change came in the year to April 2022, when income rose by 443%. Over the whole period it spent 78% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Crosstown Arts sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within TN. Charities of a similar size with the same main cause include Academy of Music of Philadelphia Inc ($4.9m), International Womens Media Foundation ($4.9m) and The Museum of the African Diaspora ($4.9m).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 55% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $82k (1.4% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $109.4m against liabilities of $84.0m, net assets of $25.4m. It reported 48 employees.