Florence Arts Council

Analysis

Florence Arts Council is a registered charity in United States, based in Florence, CO. It received its IRS tax-exemption ruling in January 2013, 13 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 December 2023, Florence Arts Council reported income of $56k and spending of $73k, spending 130% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $104k to $56k (-46%), an average of -46% a year. The sharpest change came in the year to December 2023, when income dropped by 46%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Florence Arts Council sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 19th percentile within CO. Charities of a similar size with the same main cause include Microbeam Analysis Society Inc ($56k), Wildwood Historical Society Inc ($56k) and Archeological Institute of the Pee Dee ($56k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 37% of the total. At year end it held assets of $349k against liabilities of $750, net assets of $348k.