Freehorse Arts

Analysis

Freehorse Arts is a registered charity in United States, based in Hanover, VA. It received its IRS tax-exemption ruling in October 2021, 5 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, Freehorse Arts reported income of $116k and spending of $125k, spending 108% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $155k to $116k (-25%), an average of -25% a year. The sharpest change came in the year to December 2023, when income dropped by 25%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Freehorse Arts sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 40th percentile within VA. Charities of a similar size with the same main cause include Core Dance Company ($116k), Kona Dance and Peforming Arts Inc ($116k) and Surfrider Spirit Sessions ($116k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 2.9% of the total. At year end it held assets of $26k against liabilities of $0, net assets of $26k.