Kittery Art Association
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2022 | 653,771 | 72,873 | 580,898 | 127.0 | 0% |
| 2023 | 119,069 | 153,872 | −34,803 | 57.4 | 13% |
| 2024 | 176,497 | 177,575 | −1,078 | 49.7 | 27% |
In its most recent public year (2024), this organization spent $1,078 more than it brought in. Its reserves stood at about 49.7 months of spending, down from 127 in 2022. Staff pay was 27% of spending. $103,210 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2024. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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