Floyd Community Center for the Arts Inc

Analysis

Floyd Community Center for the Arts Inc is a registered charity in United States, based in Floyd, VA. It received its IRS tax-exemption ruling in April 1996, 30 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, Floyd Community Center for the Arts Inc reported income of $375k and spending of $410k, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $291k to $375k (+29%), an average of +6.6% a year. The sharpest change came in the year to December 2021, when income rose by 175%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Floyd Community Center for the Arts Inc 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 66th percentile, and in the 65th percentile within VA. Charities of a similar size with the same main cause include Calumet Theatre Company ($375k), McCandless Collection Inc ($375k) and Somerset County Cultural Arts Center Inc ($375k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 61% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $55k (13% of expenses). Other salaries and wages came to $109k. At year end it held assets of $1.1m against liabilities of $138k, net assets of $1.0m. It reported 8 employees.