Swannanoa Valley Art League

Analysis

Swannanoa Valley Art League is a registered charity in United States, based in Black MTN, NC. It received its IRS tax-exemption ruling in December 1991, 35 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 August 2023, Swannanoa Valley Art League reported income of $56k and spending of $45k, leaving 20% of income unspent that year. Across the 2 years on record, from August 2022 to August 2023, income grew from $38k to $56k (+47%), an average of +47% a year. The sharpest change came in the year to August 2023, when income rose by 47%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Swannanoa Valley Art League sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 20th percentile within NC. Charities of a similar size with the same main cause include Freedom Club Inc ($56k), Lake of the Woods Veterans Memorial Foundation ($56k) and LA Leche League International Inc ($56k).

On its Form 990-EZ for the period ending August 2023, revenue came from contributions and grants 18% and program service revenue 75% of the total. At year end it held assets of $120k against liabilities of $0, net assets of $120k.