Business Consortium for Arts Supp

Analysis

Business Consortium for Arts Supp is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in January 1988, 38 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 December 2023, Business Consortium for Arts Supp reported income of $753k and spending of $779k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $828k to $753k (-9.0%), an average of -2.3% a year. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Business Consortium for Arts Supp sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within VA. Charities of a similar size with the same main cause include Colonia First Aid Squad ($753k), Friends of the University of Ottawa ($753k) and Houston Tennis Association Inc ($753k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $83k (11% of expenses). At year end it held assets of $88k against liabilities of $0, net assets of $88k. It reported 1 employees.

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.