Monroe Council of the Arts Corporation

Analysis

Monroe Council of the Arts Corporation is a registered charity in United States, based in Key West, FL. It received its IRS tax-exemption ruling in February 1998, 28 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 2023, Monroe Council of the Arts Corporation reported income of $390k and spending of $398k, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $332k to $390k (+17%), an average of +4.1% a year. Over the whole period it spent 110% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Monroe Council of the Arts Corporation sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 69th percentile within FL. Charities of a similar size with the same main cause include Friends of the Nevada Southernrailway Inc ($390k), The Navi Journey Corp ($390k) and Csab Inc ($390k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $89k (22% of expenses). Other salaries and wages came to $140k. At year end it held assets of $243k against liabilities of $720, net assets of $242k. It reported 3 employees.