Center for the Arts of Homer Inc

Analysis

Center for the Arts of Homer Inc is a registered charity in United States, based in Homer, NY. It received its IRS tax-exemption ruling in June 2003, 23 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, Center for the Arts of Homer Inc reported income of $1.6m and spending of $1.5m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $958k to $1.6m (+64%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 99%. Over the whole period it spent 86% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Center for the Arts of Homer Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Ataxia Telangiectasia Childrens Project Inc ($1.6m), West Lake Art Conservation Center Inc ($1.6m) and Independent Media Institute ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 31% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $51k (3.4% of expenses). Other salaries and wages came to $224k. At year end it held assets of $1.7m against liabilities of $554k, net assets of $1.1m. It reported 13 employees.