Alabama School of Fine Arts Foundation Inc

Analysis

Alabama School of Fine Arts Foundation Inc is a registered charity in United States, based in Birmingham, AL. It received its IRS tax-exemption ruling in December 1978, 48 years ago. 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 June 2023, Alabama School of Fine Arts Foundation Inc reported income of $617k and spending of $1.1m, spending 173% of what it took in. Across the 5 years on record, from September 2019 to June 2023, income fell from $970k to $617k (-36%), an average of -11% a year. The sharpest change came in the year to September 2022, when income rose by 76%. Over the whole period it spent 133% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Alabama School of Fine Arts Foundation Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 77th percentile within AL. Charities of a similar size with the same main cause include Library Association of Ringwood ($617k), Desert Manna ($617k) and Interfaith Shelter Network of San D Iego ($617k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 40% and program service revenue 21% of the total. At year end it held assets of $11.3m against liabilities of $132k, net assets of $11.1m.

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.