Stonegate Arts & Education Center Inc

Analysis

Stonegate Arts & Education Center Inc is a registered charity in United States, based in Bedford, IN. It received its IRS tax-exemption ruling in February 2016, 10 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Stonegate Arts & Education Center Inc reported income of $158k and spending of $210k, spending 134% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $240k to $158k (-34%), an average of -10% a year. The sharpest change came in the year to December 2021, when income dropped by 38%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Stonegate Arts & Education Center Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 46th percentile within IN. Charities of a similar size with the same main cause include Debra C Parmentola Foundation ($158k), Finger Lakes Gateway Community Development Corporation ($158k) and Latino Coalition Foundation ($157k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 39% of the total. Other salaries and wages came to $104k. At year end it held assets of $193k against liabilities of $9,057, net assets of $184k. It reported 3 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.