McLean County Art Association

Analysis

McLean County Art Association is a registered charity in United States, based in Bloomington, IL. It received its IRS tax-exemption ruling in November 1948, 78 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 August 2024, McLean County Art Association reported income of $425k and spending of $515k, spending 121% of what it took in. Across the 6 years on record, from August 2019 to August 2024, income grew from $306k to $425k (+39%), an average of +6.8% a year. The sharpest change came in the year to August 2021, when income rose by 90%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, McLean County Art Association sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 67th percentile within IL. Charities of a similar size with the same main cause include Aps Training Institute Inc ($425k), Volunteer Ally ($425k) and Main Street Arts Inc ($425k).

On its Form 990 for the period ending August 2024, revenue came from contributions and grants 26% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $74k (14% of expenses). Other salaries and wages came to $106k. At year end it held assets of $2.6m against liabilities of $86k, net assets of $2.5m. It reported 7 employees.