Mississippi Arts and Entertainment Center

Analysis

Mississippi Arts and Entertainment Center is a registered charity in United States, based in Meridian, MS. It received its IRS tax-exemption ruling in September 2003, 23 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 June 2024, Mississippi Arts and Entertainment Center reported income of $3.5m and spending of $4.8m, spending 137% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $11.1m to $3.5m (-68%), an average of -20% a year. The sharpest change came in the year to June 2020, when income dropped by 75%. Over the whole period it spent 115% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Mississippi Arts and Entertainment Center sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within MS. Charities of a similar size with the same main cause include Sea Turtle Inc ($3.5m), Young Concert Artists Inc ($3.5m) and Sag Harbor Cinema Arts Center Inc ($3.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 14% and program service revenue 83% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $10.0m against liabilities of $257k, net assets of $9.8m. It reported 49 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.