Steel City Arts Foundation

Analysis

Steel City Arts Foundation is a registered charity in United States, based in Pineville, NC. It received its IRS tax-exemption ruling in March 2022, 4 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Steel City Arts Foundation reported income of $187k and spending of $174k, spending 93% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $227k to $187k (-17%), an average of -18% a year. The sharpest change came in the year to December 2023, when income dropped by 17%. Over the whole period it spent 84% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Steel City Arts Foundation sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 50th percentile within NC. Charities of a similar size with the same main cause include Clothing Our Kids ($187k), Original Terlingua International Frank X Tolbert Memorial Champions ($187k) and A Mind to Work Community Development Corporation ($187k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $52k (30% of expenses). At year end it held assets of $152k against liabilities of $1,904, net assets of $150k. It reported 1 employees.