Alchemy Art Center

Analysis

Alchemy Art Center is a registered charity in United States, based in Friday Harbor, WA. It received its IRS tax-exemption ruling in May 2018, 8 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, Alchemy Art Center reported income of $292k and spending of $195k, leaving 33% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $251k to $292k (+16%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 16%. Over the whole period it spent 66% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Alchemy Art Center sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 59th percentile within WA. Charities of a similar size with the same main cause include Notch Theatre Company ($292k), Utah Anime Promotions ($292k) and Okanogan County Historical Society Incorporated ($292k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 52% and program service revenue 34% of the total. Other salaries and wages came to $77k. It paid $1,561 in professional fundraising fees. At year end it held assets of $231k against liabilities of $5,308, net assets of $225k. It reported 6 employees.