Lexington Arts Association

Analysis

Lexington Arts Association is a registered charity in United States, based in Lexington, SC. It received its IRS tax-exemption ruling in March 1963, 63 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Lexington Arts Association reported income of $362k and spending of $231k, leaving 36% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $207k to $362k (+75%), an average of +15% a year. The sharpest change came in the year to June 2022, when income rose by 226%. Over the whole period it spent 80% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lexington Arts Association sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 69th percentile within SC. Charities of a similar size with the same main cause include Fullerton Chinese Cultural Association ($362k), Harrison Museum of African American Culture ($362k) and Hallockville Inc ($361k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 36% and program service revenue 64% of the total. Other salaries and wages came to $20k. At year end it held assets of $405k against liabilities of $6,576, net assets of $398k. It reported 4 employees.