Instituto Cervantes USA Inc

Analysis

Instituto Cervantes USA Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 1995, 31 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Instituto Cervantes USA Inc reported income of $1.6m and spending of $2.3m, spending 148% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.0m to $1.6m (-23%), an average of -6.3% a year. The sharpest change came in the year to December 2020, when income dropped by 24%. Over the whole period it spent 141% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Instituto Cervantes USA Inc 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 84th percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Casa Romantica Cultural Center and Gardens ($1.6m), Northwest Folklife ($1.6m) and American Automatic Control Council ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $788k. At year end it held assets of $10.9m against liabilities of $201k, net assets of $10.7m. It reported 64 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.