Performing Arts Centers of Key West Inc

Analysis

Performing Arts Centers of Key West Inc is a registered charity in United States, based in Key West, FL. It received its IRS tax-exemption ruling in January 2005, 21 years ago. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Performing Arts Centers of Key West Inc reported income of $960k and spending of $984k, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.1m to $960k (-10%), an average of -2.6% a year. The sharpest change came in the year to June 2022, when income rose by 147%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Performing Arts Centers of Key West Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 81st percentile within FL. Charities of a similar size with the same main cause include Rosemarys Babies ($960k), Welfare Pride Inc ($960k) and Lake Oswego School Dist Foundation Inc ($960k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 47% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $26k (2.6% of expenses). Other salaries and wages came to $157k. At year end it held assets of $912k against liabilities of $154k, net assets of $758k.