Wilmington School of the Arts

Analysis

Wilmington School of the Arts is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in March 2020, 6 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Wilmington School of the Arts reported income of $2.8m and spending of $2.6m, spending 93% of its income. Across the 4 years on record, from June 2021 to June 2024, income grew from $1.5m to $2.8m (+88%), an average of +23% a year. The sharpest change came in the year to June 2022, when income rose by 58%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Wilmington School of the Arts sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within NC. Charities of a similar size with the same main cause include Little Lamb Preschool ($2.8m), Precious Hearts Academy ($2.8m) and Cambria County Child Development Corporation ($2.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 8.6% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $85k (3.2% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $536k against liabilities of $14k, net assets of $523k. It reported 68 employees.