Fremont Area Art Assn Inc

Analysis

Fremont Area Art Assn Inc is a registered charity in United States, based in Fremont, NE. It received its IRS tax-exemption ruling in July 1979, 47 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, Fremont Area Art Assn Inc reported income of $356k and spending of $191k, leaving 46% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $253k to $356k (+41%), an average of +9.0% a year. The sharpest change came in the year to August 2023, when income rose by 204%. Over the whole period it spent 68% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fremont Area Art Assn Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 64th percentile within NE. Charities of a similar size with the same main cause include Manitou Art Theatre ($356k), National Association of Schools of Theater Inc ($356k) and Chesapeake Chamber Music ($356k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 60% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $56k (29% of expenses). Other salaries and wages came to $20k. At year end it held assets of $1.2m against liabilities of $158k, net assets of $1.1m. It reported 3 employees.