Liberty Arts Inc

Analysis

Liberty Arts Inc is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in October 2001, 25 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 December 2023, Liberty Arts Inc reported income of $255k and spending of $289k, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $206k to $255k (+23%), an average of +5.4% a year. The sharpest change came in the year to December 2021, when income rose by 53%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Liberty Arts Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 57th percentile within NC. Charities of a similar size with the same main cause include Kennett Symphony of Chester County ($255k), American Paint Horse Heritage Foundation Inc ($255k) and Wilmington Railroad Museum Foundation Inc ($255k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.0% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $63k (22% of expenses). Other salaries and wages came to $1,200. At year end it held assets of $102k against liabilities of $3,347, net assets of $99k. It reported 2 employees.