Fort Madison Area Arts Association

Analysis

Fort Madison Area Arts Association is a registered charity in United States, based in Fort Madison, IA. It received its IRS tax-exemption ruling in June 1980, 46 years ago. 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 March 2024, Fort Madison Area Arts Association reported income of $97k and spending of $124k, spending 127% of what it took in. Across the 2 years on record, from March 2023 to March 2024, income grew from $64k to $97k (+52%), an average of +52% a year. The sharpest change came in the year to March 2024, when income rose by 52%. Over the whole period it spent 131% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Fort Madison Area Arts Association sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 35th percentile within IA. Charities of a similar size with the same main cause include Georgia Rural Health Association Incorporated ($97k), The Heads Up Youth Foundation Inc ($97k) and Hunger Network in Ohio ($97k).

On its Form 990-EZ for the period ending March 2024, revenue came from contributions and grants 43% and program service revenue 13% of the total. At year end it held assets of $81k against liabilities of $2,148, net assets of $79k.