Craven Arts Council and Gallery Inc

Analysis

Craven Arts Council and Gallery Inc is a registered charity in United States, based in New Bern, 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, Craven Arts Council and Gallery Inc reported income of $274k and spending of $296k, spending 108% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $229k to $274k (+20%), an average of +6.3% a year. The sharpest change came in the year to June 2021, when income rose by 51%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Craven Arts Council and Gallery Inc sits at the 66th percentile: it is larger than about 66% 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 Denniston Hill Corp ($274k), Tovrea Carraro Society ($274k) and Miami Nation of Indians of the State of Indiana Inc ($274k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 73% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $50k (17% of expenses). Other salaries and wages came to $68k. At year end it held assets of $529k against liabilities of $148k, net assets of $381k. It reported 3 employees.