Arts of the Albemarle Aoa

Analysis

Arts of the Albemarle Aoa is a registered charity in United States, based in Elizabeth Cty, NC. It received its IRS tax-exemption ruling in November 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 (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, Arts of the Albemarle Aoa reported income of $327k and spending of $480k, spending 147% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $451k to $327k (-27%), an average of -7.7% a year. The sharpest change came in the year to June 2020, when income dropped by 16%. Over the whole period it spent 115% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Arts of the Albemarle Aoa sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 62nd percentile within NC. Charities of a similar size with the same main cause include Western Museums Association ($327k), Orange County Fire Services Association ($327k) and Columbus Music and Art Academy ($327k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 62% and program service revenue 36% of the total. Other salaries and wages came to $139k. At year end it held assets of $2.5m against liabilities of $248k, net assets of $2.2m. It reported 13 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.