Mankato Area Arts Council

Analysis

Mankato Area Arts Council is a registered charity in United States, based in Mankato, MN. It received its IRS tax-exemption ruling in July 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, Mankato Area Arts Council reported income of $144k and spending of $103k, leaving 29% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $80k to $144k (+80%), an average of +16% a year. The sharpest change came in the year to June 2022, when income rose by 1351%. Over the whole period it spent 36% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mankato Area Arts Council sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 44th percentile within MN. Charities of a similar size with the same main cause include New Mexico Public Health Association ($144k), Greater Stillwater Chamber Foundation ($144k) and Covington Church of Christ ($144k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 87% and program service revenue 9.8% of the total. Compensation of current officers, directors and key employees was $27k (26% of expenses). At year end it held assets of $1.3m against liabilities of $1,489, net assets of $1.3m.