Lee County Arts & Community Center Inc

Analysis

Lee County Arts & Community Center Inc is a registered charity in United States, based in Sanford, NC. It received its IRS tax-exemption ruling in January 1996, 30 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 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 June 2023, Lee County Arts & Community Center Inc reported income of $135k and spending of $194k, spending 144% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $116k to $135k (+16%), an average of +3.8% a year. The sharpest change came in the year to June 2023, when income rose by 24%. Over the whole period it spent 142% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lee County Arts & Community Center Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 42nd percentile within NC. Charities of a similar size with the same main cause include Van Wert Civic Theatre Inc ($135k), American-Russian Aid Association Otrada Inc ($135k) and Frederic Remington Art Museum Foundation ($135k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.2% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $31k (16% of expenses). Other salaries and wages came to $8,575. It paid $16k in professional fundraising fees. At year end it held assets of $736k against liabilities of $0, net assets of $736k. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.