Fort Worth Art Association

Analysis

Fort Worth Art Association is a registered charity in United States, based in Fort Worth, TX. It received its IRS tax-exemption ruling in November 1940, 86 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, Fort Worth Art Association reported income of $18.5m and spending of $16.6m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $17.6m to $18.5m (+5.1%), an average of +1.2% a year. The sharpest change came in the year to June 2020, when income dropped by 29%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fort Worth Art Association sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within TX. Charities of a similar size with the same main cause include Milwaukee Symphony Orchestra Inc ($18.5m), Society of the Four Arts ($18.5m) and Cheekwood Botanical Garden and Museum of Art ($18.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 57% and program service revenue 2.6% of the total. Compensation of current officers, directors and key employees was $1.2m (7.5% of expenses). Other salaries and wages came to $4.5m. At year end it held assets of $75.3m against liabilities of $648k, net assets of $74.7m. It reported 123 employees.