Quilt Institute Inc

Analysis

Quilt Institute Inc is a registered charity in United States, based in LA Grange, TX. It received its IRS tax-exemption ruling in July 2011, 15 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, Quilt Institute Inc reported income of $219k and spending of $283k, spending 129% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $297k to $219k (-26%), an average of -7.3% a year. The sharpest change came in the year to December 2021, when income dropped by 31%. Over the whole period it spent 118% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Quilt Institute Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 60th percentile within TX. Charities of a similar size with the same main cause include Albany Live Inc ($219k), Taylor County History Center ($219k) and Friends of Treme Culture ($219k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 51% of the total. Other salaries and wages came to $120k. At year end it held assets of $476k against liabilities of $312k, net assets of $163k. It reported 8 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.