Salem Art Association

Analysis

Salem Art Association is a registered charity in United States, based in Salem, OR. It received its IRS tax-exemption ruling in November 1941, 85 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, Salem Art Association reported income of $994k and spending of $1.2m, spending 123% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $854k to $994k (+16%), an average of +3.9% a year. The sharpest change came in the year to December 2022, when income rose by 146%. Over the whole period it spent 106% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Salem Art Association sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within OR. Charities of a similar size with the same main cause include Mystic Ballet Inc ($993k), Bimini Biological Field Station Foundation Inc ($994k) and Uss Cleveland Legacy Foundation ($992k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $54k (4.4% of expenses). Other salaries and wages came to $414k. At year end it held assets of $574k against liabilities of $51k, net assets of $523k. It reported 24 employees.