Amarillo Art Institute Inc

Analysis

Amarillo Art Institute Inc is a registered charity in United States, based in Amarillo, TX. It received its IRS tax-exemption ruling in June 2006, 20 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, Amarillo Art Institute Inc reported income of $650k and spending of $628k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $125k to $650k (+420%), an average of +51% a year. The sharpest change came in the year to December 2020, when income rose by 78%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Amarillo Art Institute Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 78th percentile within TX. Charities of a similar size with the same main cause include National Center for Innovation and Excellence Inc ($650k), Eau Claire Childrens Theatre Inc ($650k) and Pan Asian Repertory Theatre Inc ($649k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 43% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $78k (12% of expenses). Other salaries and wages came to $123k. At year end it held assets of $156k against liabilities of $0, net assets of $156k. It reported 4 employees.