Harmers Town Art Center Inc

Analysis

Harmers Town Art Center Inc is a registered charity in United States, based in Hvre de Grace, MD. It received its IRS tax-exemption ruling in May 2021, 5 years ago. 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 June 2023, Harmers Town Art Center Inc reported income of $566k and spending of $73k, leaving 87% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $282k to $566k (+101%), an average of +101% a year. The sharpest change came in the year to June 2023, when income rose by 101%. Over the whole period it spent 13% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Harmers Town Art Center Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 71st percentile within MD. Charities of a similar size with the same main cause include Unity Housing Inc ($566k), Leashes of Valor ($566k) and Harrison County Child Sexual Abuse Task Force Inc ($566k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $1.0m against liabilities of $5,654, net assets of $1.0m.