Maryland Federation of Art Inc

Analysis

Maryland Federation of Art Inc is a registered charity in United States, based in Annapolis, MD. It received its IRS tax-exemption ruling in February 1970, 56 years ago. 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, Maryland Federation of Art Inc reported income of $394k and spending of $315k, leaving 20% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $257k to $394k (+53%), an average of +11% a year. The sharpest change came in the year to June 2021, when income rose by 72%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Maryland Federation of Art Inc sits at the 65th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 66th percentile within MD. Charities of a similar size with the same main cause include Yellow Springs Senior Citizens Inc ($394k), Susan Mast ALS Foundation Inc ($394k) and St Genevieve Golden Age Club Inc ($394k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 57% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $50k (16% of expenses). Other salaries and wages came to $62k. At year end it held assets of $257k against liabilities of $35k, net assets of $223k. It reported 7 employees.