Wilmington Art Association Inc

Analysis

Wilmington Art Association Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in May 1987, 39 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, Wilmington Art Association Inc reported income of $79k and spending of $73k, spending 92% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $63k to $79k (+25%), an average of +25% a year. The sharpest change came in the year to December 2023, when income rose by 25%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wilmington Art Association Inc sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 29th percentile within NC. Charities of a similar size with the same main cause include Pauline Valentine Adair Church Cemetery Trust ($79k), Crosby Public Library ($79k) and Vikings-Parent Group ($79k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 7.0% and program service revenue 81% of the total. At year end it held assets of $83k against liabilities of $0, net assets of $83k.