Cabarrus Arts Council Inc

Analysis

Cabarrus Arts Council Inc is a registered charity in United States, based in Concord, NC. It received its IRS tax-exemption ruling in January 1982, 44 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 June 2023, Cabarrus Arts Council Inc reported income of $775k and spending of $829k, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $794k to $775k (-2.4%), an average of -0.6% a year. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cabarrus Arts Council Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within NC. Charities of a similar size with the same main cause include Metrowest Mediation Services Inc ($775k), Link Associates Foundation Incorporates ($775k) and Schuman-Liles Clinic Inc ($775k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $98k (12% of expenses). Other salaries and wages came to $351k. At year end it held assets of $650k against liabilities of $0, net assets of $650k. It reported 8 employees.