Chestnut Fine Arts Center Inc

Analysis

Chestnut Fine Arts Center Inc is a registered charity in United States, based in Olathe, KS. It received its IRS tax-exemption ruling in May 2002, 24 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, Chestnut Fine Arts Center Inc reported income of $162k and spending of $254k, spending 156% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $519k to $162k (-69%), an average of -25% a year. The sharpest change came in the year to December 2021, when income rose by 90%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Chestnut Fine Arts Center Inc sits at the 55th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 48th percentile within KS. Charities of a similar size with the same main cause include Carpe Diem String Quartet ($162k), Carmel International Arts Festival ($162k) and Sauers Cares ($162k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 23% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $78k (31% of expenses). Other salaries and wages came to $2,737. At year end it held assets of $572k against liabilities of $0, net assets of $572k. It reported 3 employees.