Thegifted Arts Inc

Analysis

Thegifted Arts Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in March 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, Thegifted Arts Inc reported income of $378k and spending of $454k, spending 120% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $220k to $378k (+71%), an average of +31% a year. The sharpest change came in the year to December 2022, when income rose by 107%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Thegifted Arts Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 64th percentile within NC. Charities of a similar size with the same main cause include Ali Akbar College of Music ($378k), Murfreesboro Historical Assn Inc ($378k) and John Gilmore Riley Center-Museum for African American History & ($377k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $195k (43% of expenses). Other salaries and wages came to $86k. At year end it held assets of $85k against liabilities of $0, net assets of $85k. It reported 10 employees.