Hillsborough Arts Council

Analysis

Hillsborough Arts Council is a registered charity in United States, based in Hillsborough, NC. It received its IRS tax-exemption ruling in June 2000, 26 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 2024, Hillsborough Arts Council reported income of $271k and spending of $270k, spending 100% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $190k to $271k (+42%), an average of +7.3% a year. The sharpest change came in the year to June 2022, when income rose by 32%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hillsborough Arts Council sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 58th percentile within NC. Charities of a similar size with the same main cause include Banzerini House ($271k), Radiance Ministries ($271k) and Colorado Music Hall of Fame ($271k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 71% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $45k (17% of expenses). Other salaries and wages came to $98k. At year end it held assets of $75k against liabilities of $5,045, net assets of $70k. It reported 4 employees.