Madison County Arts Council

Analysis

Madison County Arts Council is a registered charity in United States, based in Marshall, NC. It received its IRS tax-exemption ruling in September 1991, 35 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Madison County Arts Council reported income of $350k and spending of $303k, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $297k to $350k (+18%), an average of +4.3% a year. The sharpest change came in the year to December 2021, when income rose by 176%. Over the whole period it spent 63% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Madison County Arts Council sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 63rd percentile within NC. Charities of a similar size with the same main cause include Assembly of God Apple Tree Church ($350k), Association of Texas Soil Conservation Districts ($350k) and Arc Foundation of Somerset County Inc ($350k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $58k (19% of expenses). Other salaries and wages came to $45k. At year end it held assets of $1.1m against liabilities of $159k, net assets of $931k. It reported 2 employees.