Northern Lakes Arts Association

Analysis

Northern Lakes Arts Association is a registered charity in United States, based in Ely, MN. It received its IRS tax-exemption ruling in August 1988, 38 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 December 2023, Northern Lakes Arts Association reported income of $193k and spending of $183k, spending 95% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $80k to $193k (+141%), an average of +141% a year. The sharpest change came in the year to December 2023, when income rose by 141%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Northern Lakes Arts Association sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 51st percentile within MN. Charities of a similar size with the same main cause include Leadership Hendericks County Inc ($193k), Carriage and Western Art Museum of ($193k) and Valley Vision ($193k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 39% and program service revenue 48% of the total. At year end it held assets of $112k against liabilities of $34k, net assets of $77k.