William Bonifas Fine Arts Center Inc

Analysis

William Bonifas Fine Arts Center Inc is a registered charity in United States, based in Escanaba, MI. It received its IRS tax-exemption ruling in June 1980, 46 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 2023, William Bonifas Fine Arts Center Inc reported income of $297k and spending of $367k, spending 123% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $354k to $297k (-16%), an average of -4.3% a year. The sharpest change came in the year to June 2021, when income rose by 38%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, William Bonifas Fine Arts Center Inc sits at the 68th 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 61st percentile within MI. Charities of a similar size with the same main cause include Anna Derousse Boyer Trust Under the Will of ($297k), Act Foundation of Teton Valley ($297k) and New York City Players Incorporated ($297k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 51% and program service revenue 22% of the total. Other salaries and wages came to $180k. At year end it held assets of $2.2m against liabilities of $49k, net assets of $2.2m. It reported 12 employees.