Chicago Avenue Fire Arts Center

Analysis

Chicago Avenue Fire Arts Center is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in April 2008, 18 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, Chicago Avenue Fire Arts Center reported income of $652k and spending of $671k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $325k to $652k (+100%), an average of +19% a year. The sharpest change came in the year to December 2022, when income rose by 91%. Over the whole period it spent 85% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Chicago Avenue Fire Arts Center sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 73rd percentile within MN. Charities of a similar size with the same main cause include Arts Connect Houston ($652k), Peabody Historical Society ($652k) and The Valley Economic Alliance ($652k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 35% and program service revenue 65% of the total. At year end it held assets of $1.4m against liabilities of $773k, net assets of $588k. It reported 6 employees.