Latchis Arts Inc

Analysis

Latchis Arts Inc is a registered charity in United States, based in Brattleboro, VT. It received its IRS tax-exemption ruling in April 1976, 50 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 June 2023, Latchis Arts Inc reported income of $278k and spending of $191k, leaving 31% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $118k to $278k (+136%), an average of +24% a year. The sharpest change came in the year to June 2023, when income rose by 168%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Latchis Arts Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 52nd percentile within VT. Charities of a similar size with the same main cause include Harriet Tubman Museum of Cape May ($278k), Untitled Art Space Inc ($278k) and Wyck Association ($278k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 53% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $37k (19% of expenses). At year end it held assets of $1.3m against liabilities of $207k, net assets of $1.1m.