Artsplosure-Raleigh Arts Festival

Analysis

Artsplosure-Raleigh Arts Festival is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in October 1980, 46 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 2024, Artsplosure-Raleigh Arts Festival reported income of $760k and spending of $923k, spending 121% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $719k to $760k (+5.8%), an average of +1.4% a year. The sharpest change came in the year to June 2022, when income rose by 103%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Artsplosure-Raleigh Arts Festival sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within NC. Charities of a similar size with the same main cause include Safe Space Pictures Foundation ($760k), Portland Street Art Alliance ($760k) and Maces Lane Community Center ($760k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 52% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $88k (9.5% of expenses). Other salaries and wages came to $195k. At year end it held assets of $168k against liabilities of $28k, net assets of $140k. It reported 5 employees.