Richmond Area Arts Council Inc

Analysis

Richmond Area Arts Council Inc is a registered charity in United States, based in Richmond, KY. It received its IRS tax-exemption ruling in November 1990, 36 years ago. 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, Richmond Area Arts Council Inc reported income of $270k and spending of $169k, leaving 37% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $256k to $270k (+5.3%), an average of +1.3% a year. The sharpest change came in the year to June 2023, when income rose by 1319%. Over the whole period it spent 77% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Richmond Area Arts Council Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 60th percentile within KY. Charities of a similar size with the same main cause include New Braunfels Art League ($270k), Public Service Leadership Academy Inc ($270k) and Little Disciples Christian Childcare Inc ($270k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 49% and program service revenue 18% of the total. Other salaries and wages came to $69k. At year end it held assets of $1.3m against liabilities of $1,621, net assets of $1.3m. It reported 2 employees.