Midwest Fine Arts Society Inc

Analysis

Midwest Fine Arts Society Inc is a registered charity in United States, based in Schaumburg, IL. It received its IRS tax-exemption ruling in July 2017, 9 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, Midwest Fine Arts Society Inc reported income of $98k and spending of $96k, spending 98% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $62k to $98k (+57%), an average of +57% a year. The sharpest change came in the year to December 2023, when income rose by 57%. Over the whole period it spent 105% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Midwest Fine Arts Society Inc sits at the 41st percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 37th percentile within IL. Charities of a similar size with the same main cause include Denver Fringe Festival Inc ($98k), Belton Center for the Arts ($98k) and Friends of Mt Lebanon Percussion ($98k).

At year end it held assets of $25k against liabilities of $0, net assets of $25k.