Center for the Arts at Ithaca Inc

Analysis

Center for the Arts at Ithaca Inc is a registered charity in United States, based in Ithaca, NY. It received its IRS tax-exemption ruling in November 1967, 59 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 December 2023, Center for the Arts at Ithaca Inc reported income of $1.1m and spending of $1.2m, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.6m to $1.1m (-30%), an average of -8.4% a year. The sharpest change came in the year to December 2021, when income rose by 97%. Over the whole period it spent 106% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Center for the Arts at Ithaca Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Center for Railroad Photography & Art Endowment ($1.1m), Qcc-The Center for Lesbian Gay Bisexual Transgender Art & Culture ($1.1m) and Center for Traditional Music and Dance Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $85k (7.3% of expenses). Other salaries and wages came to $558k. At year end it held assets of $2.6m against liabilities of $511k, net assets of $2.1m. It reported 140 employees.