Norfolk Society of Arts

Analysis

Norfolk Society of Arts is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in February 1931, 95 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 June 2024, Norfolk Society of Arts reported income of $104k and spending of $57k, leaving 46% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $75k to $104k (+39%), an average of +6.8% a year. The sharpest change came in the year to June 2022, when income rose by 45%. Over the whole period it spent 60% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Norfolk Society of Arts sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 37th percentile within VA. Charities of a similar size with the same main cause include Walking Shadow Theater Company ($104k), Arts Council of Brownwood ($104k) and Our Steps Inc ($104k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 26% and program service revenue 23% of the total. At year end it held assets of $1.0m against liabilities of $910, net assets of $1.0m.