Arts Center of Cannon County

Analysis

Arts Center of Cannon County is a registered charity in United States, based in Woodbury, TN. It received its IRS tax-exemption ruling in July 1990, 36 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 December 2023, Arts Center of Cannon County reported income of $606k and spending of $476k, leaving 21% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $376k to $606k (+61%), an average of +13% a year. The sharpest change came in the year to December 2022, when income rose by 239%. Over the whole period it spent 75% 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 Center of Cannon County sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 75th percentile within TN. Charities of a similar size with the same main cause include Denton Community Theatre Inc ($606k), Boston String Academy Inc ($606k) and Hungary Initiatives Foundation Inc ($606k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $31k (6.5% of expenses). Other salaries and wages came to $99k. At year end it held assets of $2.3m against liabilities of $34k, net assets of $2.2m. It reported 9 employees.