Piedmont Craftsmen Inc

Analysis

Piedmont Craftsmen Inc is a registered charity in United States, based in Winstonsalem, NC. It received its IRS tax-exemption ruling in June 1965, 61 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, Piedmont Craftsmen Inc reported income of $343k and spending of $430k, spending 126% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $403k to $343k (-15%), an average of -4.0% a year. The sharpest change came in the year to December 2021, when income rose by 59%. Over the whole period it spent 109% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Piedmont Craftsmen Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 63rd percentile within NC. Charities of a similar size with the same main cause include Zadock Pratt Museum Inc ($343k), Babes Fest Inc ($343k) and Newburyport Art Association Inc ($343k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $47k (11% of expenses). Other salaries and wages came to $144k. At year end it held assets of $552k against liabilities of $50k, net assets of $502k. It reported 15 employees.