Foundation for the Arts at the Core of Education

Analysis

Foundation for the Arts at the Core of Education is a registered charity in United States, based in Swannanoa, NC. It received its IRS tax-exemption ruling in September 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2023, Foundation for the Arts at the Core of Education reported income of $581k and spending of $253k, leaving 56% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $295k to $581k (+97%), an average of +18% a year. The sharpest change came in the year to June 2023, when income rose by 279%. Over the whole period it spent 41% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Foundation for the Arts at the Core of Education sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within NC. Charities of a similar size with the same main cause include Preachit Inc ($581k), Red Mountain Community School ($581k) and Pleasant Valley Free Library ($581k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 31% of the total. At year end it held assets of $7.2m against liabilities of $4.7m, net assets of $2.5m.