Fergus Falls Center for the Arts Inc

Analysis

Fergus Falls Center for the Arts Inc is a registered charity in United States, based in Fergus Falls, MN. It received its IRS tax-exemption ruling in January 1984, 42 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, Fergus Falls Center for the Arts Inc reported income of $444k and spending of $591k, spending 133% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $483k to $444k (-8.2%), an average of -2.1% a year. The sharpest change came in the year to June 2022, when income rose by 72%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fergus Falls Center for the Arts Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 67th percentile within MN. Charities of a similar size with the same main cause include Cadet Air Corps Museum ($444k), Auburn Symphony Association ($444k) and Heritage Museum of Orange County ($444k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 51% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $66k (11% of expenses). Other salaries and wages came to $36k. At year end it held assets of $646k against liabilities of $234k, net assets of $412k. It reported 2 employees.