Octagon Center for the Arts

Analysis

Octagon Center for the Arts is a registered charity in United States, based in Ames, IA. It received its IRS tax-exemption ruling in August 1968, 58 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 June 2024, Octagon Center for the Arts reported income of $178k and spending of $224k, spending 126% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $267k to $178k (-33%), an average of -7.8% a year. The sharpest change came in the year to June 2021, when income rose by 79%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Octagon Center for the Arts sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 52nd percentile within IA. Charities of a similar size with the same main cause include Cotati Accordion Festival ($178k), Oaklash ($178k) and Princeton Summer Theater Inc ($178k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 56% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $41k (18% of expenses). Other salaries and wages came to $53k. At year end it held assets of $609k against liabilities of $18k, net assets of $592k. It reported 13 employees.