Maywood Fine Arts Association

Analysis

Maywood Fine Arts Association is a registered charity in United States, based in Maywood, IL. It received its IRS tax-exemption ruling in August 1992, 34 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 July 2023, Maywood Fine Arts Association reported income of $1.2m and spending of $1.2m, spending 104% of its income. Across the 5 years on record, from July 2019 to July 2023, income fell from $1.3m to $1.2m (-7.7%), an average of -2.0% a year. The sharpest change came in the year to July 2022, when income rose by 33%. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Maywood Fine Arts Association sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within IL. Charities of a similar size with the same main cause include North Dakota Petroleum Foundation ($1.2m), Habitat for Humanity International Inc ($1.2m) and Kentucky Center for Economic Policy Inc ($1.2m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 64% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $72k (5.9% of expenses). Other salaries and wages came to $587k. At year end it held assets of $3.5m against liabilities of $88k, net assets of $3.4m. It reported 65 employees.