Friends of the Arts Inc

Analysis

Friends of the Arts Inc is a registered charity in United States, based in Jasper, IN. It received its IRS tax-exemption ruling in June 1977, 49 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, Friends of the Arts Inc reported income of $124k and spending of $75k, leaving 39% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $297k to $124k (-58%), an average of -20% a year. The sharpest change came in the year to December 2023, when income rose by 69%. 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, Friends of the Arts Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 40th percentile within IN. Charities of a similar size with the same main cause include New Chaucer Society ($124k), Seaside Highland Games ($124k) and City Theatre Company ($124k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. At year end it held assets of $424k against liabilities of $0, net assets of $424k.