Central Minnesota Arts Board

Analysis

Central Minnesota Arts Board is a registered charity in United States, based in Foley, MN. It received its IRS tax-exemption ruling in April 1979, 47 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 June 2023, Central Minnesota Arts Board reported income of $1.1m and spending of $1.2m, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.0m to $1.1m (+12%), an average of +2.9% a year. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Central Minnesota Arts Board 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 MN. Charities of a similar size with the same main cause include Without Permission Inc ($1.1m), Tahoe Truckee Community Scholarship Committee ($1.1m) and Boy Scouts of America ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $96k (8.2% of expenses). Other salaries and wages came to $162k. At year end it held assets of $549k against liabilities of $374k, net assets of $176k. It reported 6 employees.