The Arts Center of the Capital Region

Analysis

The Arts Center of the Capital Region is a registered charity in United States, based in Troy, NY. It received its IRS tax-exemption ruling in May 1966, 60 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, The Arts Center of the Capital Region reported income of $1.9m and spending of $2.0m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.3m to $1.9m (+45%), an average of +9.7% a year. The sharpest change came in the year to June 2022, when income rose by 48%. Over the whole period it spent 105% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Arts Center of the Capital Region sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include Sierra Nevada Childrens Museum ($1.9m), Aurelia Institute Inc ($1.9m) and Dancemakers Inc ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 69% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $131k (6.5% of expenses). Other salaries and wages came to $642k. At year end it held assets of $3.3m against liabilities of $1.5m, net assets of $1.8m. It reported 74 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.