Cabarrus Arts Council Inc
EIN: 561317473 · Concord, NC
| Metric | Value |
|---|---|
| Total Revenue | $1.1M |
| Total Expenses | $829K |
| Net Assets | $650K |
Is Cabarrus Arts Council Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Cabarrus Arts Council Inc
Cabarrus Arts Council Inc (EIN: 561317473) is a nonprofit organization based in Concord, NC. The organization reported total revenue of $1.1M and total assets of $748K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cabarrus Arts Council Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cabarrus Arts Council Inc is a mid-size nonprofit that has been operating for 44 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $775K |
| Total Expenses | $829K |
| Surplus / Deficit | $-54,205 |
| Total Assets | $650K |
| Net Assets | $650K |
| Operating Margin | -7.0% |
| Months of Reserves | 9.4 months |
Financial Health Grade: B
In 2023, Cabarrus Arts Council Inc reported a deficit of $54K with expenses exceeding revenue, holds 9.4 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Cabarrus Arts Council Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -11.6% | +11.3% | -7.7% |
| 2022 | +3.8% | +2.2% | +22.9% |
| 2021 | +7.7% | -5.3% | +25.3% |
| 2020 | -1.3% | -3.6% | +3.2% |
| 2019 | +13.8% | +11.1% | -10.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1982 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Cabarrus Arts Council Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Cabarrus Arts Council Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $54K, with expenses exceeding revenue.
Frequently Asked Questions about Cabarrus Arts Council Inc
Is Cabarrus Arts Council Inc a legitimate charity?
Cabarrus Arts Council Inc (EIN: 561317473) is a registered tax-exempt nonprofit based in North Carolina. It has 13 years of IRS 990 filings on record. Total revenue: $1.1M. No red flags identified. Financial health grade: B.
How does Cabarrus Arts Council Inc spend its money?
Cabarrus Arts Council Inc reported $1.1M in total revenue in IRS 990 filings. 13 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Cabarrus Arts Council Inc tax-deductible?
Cabarrus Arts Council Inc is registered as a tax-exempt nonprofit (EIN: 561317473). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Cabarrus Arts Council Inc located?
Cabarrus Arts Council Inc is headquartered in Concord, North Carolina and files with the IRS under EIN 561317473.
How many years of IRS 990 filings does Cabarrus Arts Council Inc have?
Cabarrus Arts Council Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.1M in total revenue.
Filing History
IRS 990 filing history for Cabarrus Arts Council Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Cabarrus Arts Council Inc's revenue has grown by 52.3%, moving from $509K to $775K. Total assets increased by 22.8% over the same period, from $529K to $650K. Total functional expenses rose by 55.8%, from $532K to $829K. In its most recent filing year (2023), Cabarrus Arts Council Inc reported a deficit of $54K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $775K | $829K | $650K | $0 | — | View 990 |
| 2022 | $876K | $745K | $704K | $0 | — | View 990 |
| 2021 | $844K | $729K | $573K | $0 | — | View 990 |
| 2020 | $784K | $770K | $457K | $0 | — | View 990 |
| 2019 | $794K | $798K | $443K | $0 | — | View 990 |
| 2018 | $698K | $718K | $495K | $232 | — | View 990 |
| 2017 | $673K | $673K | $516K | $0 | — | View 990 |
| 2016 | $673K | $699K | $516K | $0 | — | View 990 |
| 2015 | $658K | $654K | $542K | $0 | — | View 990 |
| 2014 | $629K | $630K | $538K | $0 | — | View 990 |
| 2013 | $618K | $613K | $539K | $0 | — | View 990 |
| 2012 | $585K | $577K | $534K | $0 | — | View 990 |
| 2011 | $509K | $532K | $529K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $775K, expenses of $829K, and assets of $650K (revenue -11.6% year-over-year).
- 2022: Revenue of $876K, expenses of $745K, and assets of $704K (revenue +3.8% year-over-year).
- 2021: Revenue of $844K, expenses of $729K, and assets of $573K (revenue +7.7% year-over-year).
- 2020: Revenue of $784K, expenses of $770K, and assets of $457K (revenue -1.3% year-over-year).
- 2019: Revenue of $794K, expenses of $798K, and assets of $443K (revenue +13.8% year-over-year).
- 2018: Revenue of $698K, expenses of $718K, and assets of $495K (revenue +3.6% year-over-year).
- 2017: Revenue of $673K, expenses of $673K, and assets of $516K (revenue +0.1% year-over-year).
- 2016: Revenue of $673K, expenses of $699K, and assets of $516K (revenue +2.2% year-over-year).
- 2015: Revenue of $658K, expenses of $654K, and assets of $542K (revenue +4.6% year-over-year).
- 2014: Revenue of $629K, expenses of $630K, and assets of $538K (revenue +1.8% year-over-year).
- 2013: Revenue of $618K, expenses of $613K, and assets of $539K (revenue +5.7% year-over-year).
- 2012: Revenue of $585K, expenses of $577K, and assets of $534K (revenue +14.9% year-over-year).
- 2011: Revenue of $509K, expenses of $532K, and assets of $529K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Cabarrus Arts Council Inc:
Data Sources and Methodology
This transparency report for Cabarrus Arts Council Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.