Arts Council Wichita Falls Area Inc

Analysis

Arts Council Wichita Falls Area Inc is a registered charity in United States, based in Wichita Falls, TX. It received its IRS tax-exemption ruling in August 1995, 31 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 May 2023, Arts Council Wichita Falls Area Inc reported income of $1.1m and spending of $1.1m, spending 106% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income grew from $892k to $1.1m (+20%), an average of +4.6% a year. The sharpest change came in the year to May 2021, when income rose by 48%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Arts Council Wichita Falls Area Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 84th percentile within TX. Charities of a similar size with the same main cause include American Contemporary Ballet Inc ($1.1m), Media Education Foundation Inc ($1.1m) and Trilok Fusion Arts Inc ($1.1m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 46% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $55k (4.9% of expenses). At year end it held assets of $6.6m against liabilities of $125k, net assets of $6.5m. It reported 24 employees.