Eastern Shore Art Assn Inc

Analysis

Eastern Shore Art Assn Inc is a registered charity in United States, based in Fairhope, AL. It received its IRS tax-exemption ruling in September 1959, 67 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 May 2024, Eastern Shore Art Assn Inc reported income of $687k and spending of $740k, spending 108% of what it took in. Across the 6 years on record, from May 2019 to May 2024, income fell from $811k to $687k (-15%), an average of -3.3% a year. The sharpest change came in the year to May 2020, when income dropped by 45%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Eastern Shore Art Assn Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 78th percentile within AL. Charities of a similar size with the same main cause include The Residency ($686k), 4th Wall Theatre Company ($687k) and Monroe County Fair Association Inc ($686k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 37% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $246k (33% of expenses). At year end it held assets of $1.2m against liabilities of $78k, net assets of $1.1m. It reported 6 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.