Naples Art Association

Analysis

Naples Art Association is a registered charity in United States, based in Naples, FL. It received its IRS tax-exemption ruling in December 1957, 69 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 September 2023, Naples Art Association reported income of $2.0m and spending of $2.3m, spending 111% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.2m to $2.0m (+74%), an average of +15% a year. The sharpest change came in the year to September 2022, when income rose by 32%. Over the whole period it spent 121% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Naples Art Association sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 88th percentile within FL. Charities of a similar size with the same main cause include Tutoring Chicago ($2.0m), Missions 3 16 ($2.0m) and Worcester Area Business Education Foundation Inc ($2.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 36% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $210k (9.3% of expenses). Other salaries and wages came to $736k. At year end it held assets of $1.9m against liabilities of $130k, net assets of $1.7m. It reported 14 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.