Gaston School of the Arts Inc

Analysis

Gaston School of the Arts Inc is a registered charity in United States, based in Gastonia, NC. It received its IRS tax-exemption ruling in November 1985, 41 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Gaston School of the Arts Inc reported income of $311k and spending of $259k, spending 83% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $229k to $311k (+36%), an average of +8.0% a year. The sharpest change came in the year to June 2023, when income rose by 23%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Gaston School of the Arts 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 62nd percentile, and in the 61st percentile within NC. Charities of a similar size with the same main cause include Jewish Partisan Educational Foundation Inc ($311k), Shea Theater Arts Center Inc ($311k) and Denver Press Club ($311k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 21% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $49k (19% of expenses). Other salaries and wages came to $95k. At year end it held assets of $1.2m against liabilities of $12k, net assets of $1.1m. It reported 24 employees.