Springfield Arts Council Inc

Analysis

Springfield Arts Council Inc is a registered charity in United States, based in Springfield, OH. It received its IRS tax-exemption ruling in August 1967, 59 years ago. 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 August 2023, Springfield Arts Council Inc reported income of $867k and spending of $922k, spending 106% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $1.0m to $867k (-16%), an average of -4.2% a year. The sharpest change came in the year to August 2020, when income dropped by 19%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Springfield Arts Council Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within OH. Charities of a similar size with the same main cause include Military Missions in Action ($867k), I Am a Hero Inc ($867k) and Habitat for Humanity International Inc ($867k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 43% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $83k (9.0% of expenses). Other salaries and wages came to $185k. At year end it held assets of $1.1m against liabilities of $134k, net assets of $940k. It reported 19 employees.