The Raleigh Fine Arts Society Inc

Analysis

The Raleigh Fine Arts Society Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in May 1966, 60 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Raleigh Fine Arts Society Inc reported income of $270k and spending of $267k, spending 99% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $393k to $270k (-31%), an average of -12% a year. The sharpest change came in the year to June 2021, when income dropped by 25%. Over the whole period it spent 59% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Raleigh Fine Arts Society Inc sits at the 58th percentile: it is larger than about 58% 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 Raleigh R Ross TX Surgical Society Scholarship Fund Charitable Trust ($270k), Esdcta Inc ($270k) and Historic Downtown Gallatin Inc ($270k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 48% and program service revenue 30% of the total. At year end it held assets of $2.4m against liabilities of $73, net assets of $2.4m.