Southern Vermont Arts Center Incorporated

Analysis

Southern Vermont Arts Center Incorporated is a registered charity in United States, based in Manchester, VT. It received its IRS tax-exemption ruling in May 1952, 74 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Southern Vermont Arts Center Incorporated reported income of $1.7m and spending of $1.8m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $1.7m (+70%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 41%. Over the whole period it spent 108% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Southern Vermont Arts Center Incorporated sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 83rd percentile within VT. Charities of a similar size with the same main cause include Venice Institute for Performing Arts Center Management Inc ($1.7m), Reading Musical Foundation ($1.7m) and The American Assn of Teachers of Spanish and Portuguese Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 55% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $115k (6.3% of expenses). Other salaries and wages came to $513k. At year end it held assets of $10.1m against liabilities of $92k, net assets of $10.0m. It reported 19 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.