Waterworks Visual Art Center Inc

Analysis

Waterworks Visual Art Center Inc is a registered charity in United States, based in Salisbury, NC. It received its IRS tax-exemption ruling in December 1964, 62 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, Waterworks Visual Art Center Inc reported income of $283k and spending of $286k, spending 101% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $221k to $283k (+28%), an average of +8.6% a year. The sharpest change came in the year to June 2021, when income rose by 82%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Waterworks Visual Art Center Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 59th percentile within NC. Charities of a similar size with the same main cause include Reno Dance Company Inc ($283k), Charleston Good Inc ($283k) and Anderson Symphony Orchestra Association Inc ($283k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 81% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $73k (25% of expenses). Other salaries and wages came to $48k. At year end it held assets of $1.5m against liabilities of $6,609, net assets of $1.5m. It reported 8 employees.