Asheville Creative Arts Inc

Analysis

Asheville Creative Arts Inc is a registered charity in United States, based in Black MTN, NC. It received its IRS tax-exemption ruling in June 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 August 2023, Asheville Creative Arts Inc reported income of $1.4m and spending of $886k, leaving 34% of income unspent that year. Across the 4 years on record, from August 2020 to August 2023, income grew from $254k to $1.4m (+432%), an average of +75% a year. The sharpest change came in the year to August 2023, when income rose by 158%. Over the whole period it spent 77% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Asheville Creative Arts Inc sits at the 89th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within NC. Charities of a similar size with the same main cause include First Hijrah Foundation FHF Inc ($1.4m), Museum of the Great Plains Authority ($1.4m) and Voices of Ascension Inc ($1.4m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 93% and program service revenue 6.6% of the total. Compensation of current officers, directors and key employees was $80k (9.0% of expenses). Other salaries and wages came to $16k. At year end it held assets of $855k against liabilities of $216k, net assets of $639k. It reported 11 employees.