Holmes Center for the Arts Ltd

Analysis

Holmes Center for the Arts Ltd is a registered charity in United States, based in Millersburg, OH. It received its IRS tax-exemption ruling in March 2016, 10 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 December 2023, Holmes Center for the Arts Ltd reported income of $1.0m and spending of $297k, leaving 71% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $571k to $1.0m (+78%), an average of +16% a year. The sharpest change came in the year to December 2021, when income rose by 319%. Over the whole period it spent 27% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Holmes Center for the Arts Ltd sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within OH. Charities of a similar size with the same main cause include Centro Multicultural LA Familia Inc ($1.0m), San Benito County Arts Council ($1.0m) and Community Performing Arts Center Foundation Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $48k (16% of expenses). Other salaries and wages came to $85k. At year end it held assets of $3.3m against liabilities of $432k, net assets of $2.8m. It reported 20 employees.