Magic Valley Arts Council Inc

Analysis

Magic Valley Arts Council Inc is a registered charity in United States, based in Twin Falls, ID. It received its IRS tax-exemption ruling in September 1993, 33 years ago. 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 April 2024, Magic Valley Arts Council Inc reported income of $346k and spending of $366k, spending 106% of what it took in. Across the 5 years on record, from April 2020 to April 2024, income grew from $309k to $346k (+12%), an average of +2.8% a year. The sharpest change came in the year to April 2022, when income rose by 19%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Magic Valley Arts Council 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 64th percentile, and in the 68th percentile within ID. Charities of a similar size with the same main cause include National Bighorn Sheep Center Inc ($346k), Shelter Providers of Orlando Inc ($346k) and Lutheran Housing Corporation of Oil City Inc ($346k).

On its Form 990 for the period ending April 2024, revenue came from contributions and grants 20% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $57k (15% of expenses). Other salaries and wages came to $71k. At year end it held assets of $1.1m against liabilities of $7,026, net assets of $1.1m. It reported 6 employees.