Kinston Arts Council Inc

Analysis

Kinston Arts Council Inc is a registered charity in United States, based in Kinston, NC. It received its IRS tax-exemption ruling in October 1965, 61 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Kinston Arts Council Inc reported income of $506k and spending of $457k, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $491k to $506k (+3.0%), an average of +0.8% a year. The sharpest change came in the year to December 2023, when income rose by 66%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Kinston Arts Council Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within NC. Charities of a similar size with the same main cause include Medicine Bow Rural Health Care District ($506k), Georgia Brown Blosser Home for the Aged ($506k) and Gingerbread Play School ($506k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 15% of the total. Other salaries and wages came to $171k. At year end it held assets of $2.1m against liabilities of $16k, net assets of $2.1m. It reported 6 employees.