Franklin-Simpson Community Arts Council Inc

Analysis

Franklin-Simpson Community Arts Council Inc is a registered charity in United States, based in Franklin, KY. It received its IRS tax-exemption ruling in January 1982, 44 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Franklin-Simpson Community Arts Council Inc reported income of $171k and spending of $174k, spending 102% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $97k to $171k (+77%), an average of +15% a year. The sharpest change came in the year to June 2021, when income rose by 47%. Over the whole period it spent 107% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Franklin-Simpson Community Arts Council Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 50th percentile within KY. Charities of a similar size with the same main cause include American Society of Dowsers Inc ($171k), The Honor Network ($171k) and Greater San Diego Biological Solutions ($171k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 28% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $30k (17% of expenses). Other salaries and wages came to $33k. At year end it held assets of $236k against liabilities of $2,363, net assets of $233k. It reported 3 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.