Art League of Ocean City Inc

Analysis

Art League of Ocean City Inc is a registered charity in United States, based in Ocean City, MD. It received its IRS tax-exemption ruling in December 1985, 41 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 December 2023, Art League of Ocean City Inc reported income of $1.2m and spending of $1.0m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $680k to $1.2m (+71%), an average of +14% a year. The sharpest change came in the year to December 2023, when income rose by 48%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Art League of Ocean City Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within MD. Charities of a similar size with the same main cause include Alabama Waldorf Association the Redmont School Inc ($1.2m), Mount St James Housing Development Fund Company Inc ($1.2m) and Shavers Fork Fire Rescue Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 41% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $86k (8.5% of expenses). Other salaries and wages came to $299k. At year end it held assets of $1.1m against liabilities of $2,982, net assets of $1.1m. It reported 14 employees.