Galena Center for the Arts Inc

Analysis

Galena Center for the Arts Inc is a registered charity in United States, based in Galena, IL. It received its IRS tax-exemption ruling in September 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Galena Center for the Arts Inc reported income of $466k and spending of $321k, leaving 31% of income unspent that year. Across the 3 years on record, from May 2021 to May 2023, income fell from $1.2m to $466k (-60%), an average of -37% a year. The sharpest change came in the year to May 2022, when income dropped by 44%. Over the whole period it spent 29% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Galena Center for the Arts Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within IL. Charities of a similar size with the same main cause include National College Testing Association Inc ($466k), Waco Creative Art Center ($466k) and St Peters Syriac Orthodox Cathedral Inc ($466k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 78% and program service revenue 9.7% of the total. Other salaries and wages came to $44k. At year end it held assets of $2.2m against liabilities of $352k, net assets of $1.8m. It reported 4 employees.