Asbury Park Arts Council Inc

Analysis

Asbury Park Arts Council Inc is a registered charity in United States, based in Asbury Park, NJ. It received its IRS tax-exemption ruling in April 2019, 7 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, Asbury Park Arts Council Inc reported income of $87k and spending of $181k, spending 207% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $238k to $87k (-63%), an average of -63% a year. The sharpest change came in the year to December 2023, when income dropped by 63%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Asbury Park Arts Council Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 41st percentile within NJ. Charities of a similar size with the same main cause include International Biodiversity Foundation Incorporated ($87k), Green Bag Inc ($87k) and Wylie Acting Group ($87k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $62k against liabilities of $580, net assets of $61k.