The Piedmont Arts Association

Analysis

The Piedmont Arts Association is a registered charity in United States, based in Martinsville, VA. It received its IRS tax-exemption ruling in July 1976, 50 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 2024, The Piedmont Arts Association reported income of $630k and spending of $577k, spending 92% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $501k to $630k (+26%), an average of +5.9% a year. The sharpest change came in the year to June 2021, when income rose by 69%. Over the whole period it spent 66% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Piedmont Arts Association 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 74th percentile, and in the 74th percentile within VA. Charities of a similar size with the same main cause include Maryland Veterans TR ($630k), Mid Kansas MCC Relief Sale Inc ($630k) and Eit ICT Labs Silicon Valley Foundation ($630k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 74% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $75k (13% of expenses). Other salaries and wages came to $166k. At year end it held assets of $3.7m against liabilities of $53k, net assets of $3.7m. It reported 14 employees.