Magnolia Arts Council Inc

Analysis

Magnolia Arts Council Inc is a registered charity in United States, based in Magnolia, AR. It received its IRS tax-exemption ruling in January 1977, 49 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 2024, Magnolia Arts Council Inc reported income of $167k and spending of $172k, spending 103% of its income. Across the 4 years on record, from June 2021 to June 2024, income fell from $202k to $167k (-17%), an average of -6.2% a year. The sharpest change came in the year to June 2022, when income rose by 45%. Over the whole period it spent 71% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Magnolia Arts Council Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 50th percentile within AR. Charities of a similar size with the same main cause include GTX Connect ($167k), Brady County Water District ($167k) and Synovation Valley Leadership Academy ($167k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 68% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $31k (18% of expenses). Other salaries and wages came to $699. At year end it held assets of $501k against liabilities of $1,179, net assets of $500k. It reported 1 employees.