Fund for the Arts Inc

Analysis

Fund for the Arts Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in April 1953, 73 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 2024, Fund for the Arts Inc reported income of $6.5m and spending of $6.1m, spending 93% of its income. Across the 6 years on record, from June 2019 to June 2024, income fell from $7.9m to $6.5m (-17%), an average of -3.7% a year. The sharpest change came in the year to June 2021, when income rose by 53%. 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, Fund for the Arts Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within KY. Charities of a similar size with the same main cause include Alliance for Young Artists & Writers Inc ($6.5m), Exploration Place Inc ($6.5m) and SC Thrive ($6.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $409k (6.7% of expenses). Other salaries and wages came to $924k. At year end it held assets of $8.3m against liabilities of $533k, net assets of $7.8m. It reported 21 employees.