Lakeland Cultural Arts Center Inc

Analysis

Lakeland Cultural Arts Center Inc is a registered charity in United States, based in Littleton, NC. It received its IRS tax-exemption ruling in June 1979, 47 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 December 2022, Lakeland Cultural Arts Center Inc reported income of $583k and spending of $619k, spending 106% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $540k to $583k (+7.9%), an average of +2.6% a year. The sharpest change came in the year to December 2022, when income rose by 58%. Over the whole period it spent 73% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lakeland Cultural Arts Center Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within NC. Charities of a similar size with the same main cause include Origination ($583k), Coral Springs Museum of Art Inc ($583k) and Kansas City Jazz Orchestra ($583k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 97% and program service revenue 3.3% of the total. At year end it held assets of $176k against liabilities of $7,495, net assets of $169k. It reported 4 employees.