Norfolk Arts Center
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2021 | 292,119 | 257,246 | 34,873 | 135.0 | 40% |
| 2022 | 290,943 | 303,143 | −12,200 | 103.2 | 44% |
| 2023 | 566,453 | 334,467 | 231,986 | 104.8 | 43% |
| 2024 | 277,772 | 400,710 | −122,938 | 89.8 | 34% |
In its most recent public year (2024), this organization spent $122,938 more than it brought in. Its reserves stood at about 89.8 months of spending, down from 135 in 2021. Staff pay was 34% of spending. $2,272,358 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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