Friends of the Hastings Performing Arts Center

Analysis

Friends of the Hastings Performing Arts Center is a registered charity in United States, based in Hastings, MI. It received its IRS tax-exemption ruling in November 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Friends of the Hastings Performing Arts Center reported income of $405k and spending of $261k, leaving 35% of income unspent that year. Across the 3 years on record, from June 2022 to June 2024, income grew from $230k to $405k (+76%), an average of +33% a year. The sharpest change came in the year to June 2024, when income rose by 39%. Over the whole period it spent 64% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of the Hastings Performing Arts Center sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 67th percentile within MI. Charities of a similar size with the same main cause include Parviz Shahbazi Foundation Inc ($405k), Black Art Speaks ($405k) and Open Studio Project Inc ($405k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 83% and program service revenue 13% of the total. Other salaries and wages came to $15k. At year end it held assets of $349k against liabilities of $4,903, net assets of $344k. It reported 1 employees.