Chatham Creative Arts Incubator Inc

Analysis

Chatham Creative Arts Incubator Inc is a registered charity in United States, based in Siler City, NC. It received its IRS tax-exemption ruling in September 2002, 24 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, Chatham Creative Arts Incubator Inc reported income of $98k and spending of $77k, leaving 22% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $164k to $98k (-40%), an average of -12% a year. The sharpest change came in the year to December 2020, when income dropped by 54%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Chatham Creative Arts Incubator Inc sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 34th percentile within NC. Charities of a similar size with the same main cause include Meadows Eastside Community Resource Organization ($98k), Sunnyside Neighborhood Association of Flagstaff Inc ($98k) and Beautiful Ventures Foundation Inc ($98k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 43% and program service revenue 42% of the total. Compensation of current officers, directors and key employees was $32k (42% of expenses). At year end it held assets of $199k against liabilities of $14k, net assets of $185k. It reported 1 employees.