Old Art Building

Analysis

Old Art Building is a registered charity in United States, based in Leland, MI. It received its IRS tax-exemption ruling in September 1993, 33 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 December 2022, Old Art Building reported income of $556k and spending of $650k, spending 117% of what it took in. Across the 2 years on record, from December 2021 to December 2022, income fell from $828k to $556k (-33%), an average of -33% a year. The sharpest change came in the year to December 2022, when income dropped by 33%. Over the whole period it spent 77% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Old Art Building sits at the 79th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within MI. Charities of a similar size with the same main cause include Apple Tree Arts Inc ($556k), Mennonite Historians of Eastern Pennsylvania Inc ($556k) and Participatory Safety Inc ($556k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 49% and program service revenue 26% of the total. Other salaries and wages came to $189k. At year end it held assets of $2.5m against liabilities of $9,572, net assets of $2.5m. It reported 5 employees.