Nebraska Art Association

Analysis

Nebraska Art Association is a registered charity in United States, based in Lincoln, NE. It received its IRS tax-exemption ruling in February 1950, 76 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 June 2023, Nebraska Art Association reported income of $824k and spending of $345k, leaving 58% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.1m to $824k (-28%), an average of -7.9% a year. The sharpest change came in the year to June 2022, when income rose by 134%. Over the whole period it spent 44% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Nebraska Art Association sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within NE. Charities of a similar size with the same main cause include Gunnison Council for the Arts Inc ($824k), Young Audiences of Northern California ($824k) and Project Liberty Ship Inc ($823k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% of the total. At year end it held assets of $4.5m against liabilities of $3,962, net assets of $4.5m.