Portuguese Cultural Center Inc

Analysis

Portuguese Cultural Center Inc is a registered charity in United States, based in Danbury, CT. It received its IRS tax-exemption ruling in February 2001, 25 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, Portuguese Cultural Center Inc reported income of $701k and spending of $520k, leaving 26% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $640k to $701k (+9.4%), an average of +2.3% a year. The sharpest change came in the year to June 2022, when income rose by 279%. 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, Portuguese Cultural Center Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 73rd percentile within CT. Charities of a similar size with the same main cause include Davner Theatricals Inc ($701k), Alf Engen Ski Museum Foundation ($701k) and Middletown Township Cultural and Ar TS Council ($701k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 17% and program service revenue 4.5% of the total. Other salaries and wages came to $23k. At year end it held assets of $3.0m against liabilities of $288k, net assets of $2.7m. It reported 10 employees.