Heart of the Arts Inc

Analysis

Heart of the Arts Inc is a registered charity in United States, based in Moscow, ID. It received its IRS tax-exemption ruling in November 2003, 23 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, Heart of the Arts Inc reported income of $419k and spending of $403k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $729k to $419k (-43%), an average of -13% a year. The sharpest change came in the year to December 2020, when income rose by 61%. Over the whole period it spent 43% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Heart of the Arts Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 71st percentile within ID. Charities of a similar size with the same main cause include Science for Monks ($419k), Masterworks Chorale Society ($419k) and Almaden Winery Music and Arts ($419k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $53k (13% of expenses). Other salaries and wages came to $77k. It paid $147 in professional fundraising fees. At year end it held assets of $3.0m against liabilities of $17k, net assets of $2.9m. It reported 24 employees.