Northeast Minneapolis Arts Assoc

Analysis

Northeast Minneapolis Arts Assoc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in January 1998, 28 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 2023, Northeast Minneapolis Arts Assoc reported income of $445k and spending of $538k, spending 121% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $310k to $445k (+44%), an average of +9.5% a year. The sharpest change came in the year to December 2023, when income rose by 38%. Over the whole period it spent 106% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Northeast Minneapolis Arts Assoc 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 Lincoln County Historical Society ($445k), Paso Robles Youth Arts Center ($445k) and Empire Arts Center ($445k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $77k (14% of expenses). Other salaries and wages came to $44k. At year end it held assets of $225k against liabilities of $5,095, net assets of $220k. It reported 2 employees.