Modern Quilt Guild Inc

Analysis

Modern Quilt Guild Inc is a registered charity in United States, based in Fayetteville, AR. It received its IRS tax-exemption ruling in August 2014, 12 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 June 2023, Modern Quilt Guild Inc reported income of $1.6m and spending of $1.6m, spending 100% of its income. Across the 5 years on record, from December 2019 to June 2023, income grew from $1.2m to $1.6m (+30%), an average of +6.8% a year. The sharpest change came in the year to June 2023, when income rose by 34%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Modern Quilt Guild Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within AR. Charities of a similar size with the same main cause include Milagro Foundation Inc ($1.6m), Bayview Opera House Inc ($1.6m) and Fuller Craft Museum Inc ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.1% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $98k (6.0% of expenses). Other salaries and wages came to $321k. At year end it held assets of $492k against liabilities of $428k, net assets of $64k. It reported 9 employees.