Atlantic City Arts Foundation

Analysis

Atlantic City Arts Foundation is a registered charity in United States, based in Atlantic City, NJ. It received its IRS tax-exemption ruling in May 2013, 13 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, Atlantic City Arts Foundation reported income of $575k and spending of $533k, spending 93% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $205k to $575k (+180%), an average of +67% a year. The sharpest change came in the year to December 2023, when income rose by 119%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Atlantic City Arts Foundation sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 77th percentile within NJ. Charities of a similar size with the same main cause include Acadiana Symphony Association ($575k), Brick Theater Inc ($575k) and Haddonfield Plays and Players ($575k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 3.0% of the total. Compensation of current officers, directors and key employees was $60k (11% of expenses). Other salaries and wages came to $24k. At year end it held assets of $157k against liabilities of $44k, net assets of $113k. It reported 2 employees.