Armory Arts and Music Center

Analysis

Armory Arts and Music Center is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in May 2002, 24 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 December 2023, Armory Arts and Music Center reported income of $2.6m and spending of $342k, leaving 87% of income unspent that year. Across the 6 years on record, from December 2018 to December 2023, income grew from $1.7m to $2.6m (+54%), an average of +9.1% a year. The sharpest change came in the year to December 2023, when income rose by 367%. Over the whole period it spent 19% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Armory Arts and Music Center sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within MN. Charities of a similar size with the same main cause include Grand Tacoma Cine Club ($2.6m), Florida Cultural Group Inc ($2.6m) and Concrete Advancement Foundation Inc ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $103k (30% of expenses). Other salaries and wages came to $56k. At year end it held assets of $6.5m against liabilities of $16k, net assets of $6.5m. It reported 9 employees.