Folk Arts Center of New England Inc

Analysis

Folk Arts Center of New England Inc is a registered charity in United States, based in Stoneham, MA. It received its IRS tax-exemption ruling in July 1975, 51 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 July 2023, Folk Arts Center of New England Inc reported income of $378k and spending of $380k, spending 100% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $372k to $378k (+1.5%), an average of +0.4% a year. The sharpest change came in the year to July 2023, when income rose by 55%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Folk Arts Center of New England Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 67th percentile within MA. Charities of a similar size with the same main cause include Western Arkansas Ballet ($378k), Cleveland Coordinating Committee for Cod Inc ($378k) and The Society for the Advancement of Socio-Economics ($378k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 35% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $93k (24% of expenses). Other salaries and wages came to $36k. At year end it held assets of $267k against liabilities of $42k, net assets of $226k. It reported 3 employees.