Providence Performing Arts Center

Analysis

Providence Performing Arts Center is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in June 1978, 48 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, Providence Performing Arts Center reported income of $23.4m and spending of $23.6m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $22.3m to $23.4m (+5.0%), an average of +1.2% a year. The sharpest change came in the year to June 2022, when income rose by 422%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Providence Performing Arts Center sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within RI. Charities of a similar size with the same main cause include Coriell Institute for Medical Research Inc ($23.4m), Social Science Research Council ($23.5m) and Charlotte Symphony Orchestra Society Inc ($23.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.2% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $730k (3.1% of expenses). Other salaries and wages came to $5.7m. At year end it held assets of $76.0m against liabilities of $9.5m, net assets of $66.5m. It reported 509 employees.