Maryland Art Place Inc

Analysis

Maryland Art Place Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in May 1981, 45 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Maryland Art Place Inc reported income of $339k and spending of $373k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $259k to $339k (+31%), an average of +6.9% a year. The sharpest change came in the year to December 2020, when income rose by 35%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Maryland Art Place Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 64th percentile within MD. Charities of a similar size with the same main cause include Elgin Master Chorale Inc ($339k), Herencia Mariachi Academy ($339k) and Tenet Vocal Artists ($339k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $96k (26% of expenses). Other salaries and wages came to $57k. At year end it held assets of $715k against liabilities of $996k, net assets of -$281k. It reported 3 employees.