Grand Marais Arts Inc

Analysis

Grand Marais Arts Inc is a registered charity in United States, based in Grand Marais, MN. It received its IRS tax-exemption ruling in April 1988, 38 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Grand Marais Arts Inc reported income of $458k and spending of $537k, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $696k to $458k (-34%), an average of -10% a year. The sharpest change came in the year to December 2020, when income dropped by 52%. Over the whole period it spent 108% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Grand Marais Arts Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 68th percentile within MN. Charities of a similar size with the same main cause include Raise the Roof for the Arts ($458k), Maine Traditional Music Association ($458k) and VM Music Company Inc ($457k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 61% and program service revenue 36% of the total. Other salaries and wages came to $178k. At year end it held assets of $1.2m against liabilities of $534k, net assets of $649k. It reported 7 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.