Detroit Artists Market

Analysis

Detroit Artists Market is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in November 1938, 88 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 July 2023, Detroit Artists Market reported income of $305k and spending of $257k, spending 84% of its income. Across the 5 years on record, from July 2019 to July 2023, income fell from $309k to $305k (-1.1%), an average of -0.3% a year. The sharpest change came in the year to July 2022, when income dropped by 36%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Detroit Artists Market sits at the 69th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 62nd percentile within MI. Charities of a similar size with the same main cause include Greater Newburgh Symphony Orchestra Corp ($305k), Assyrian American Association of San Jose Inc ($305k) and Friends of Lincolnville Inc ($305k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 91% of the total. Compensation of current officers, directors and key employees was $40k (16% of expenses). Other salaries and wages came to $62k. At year end it held assets of $522k against liabilities of $110k, net assets of $412k. It reported 3 employees.