Redhouse Arts Center Inc

Analysis

Redhouse Arts Center Inc is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in October 1981, 45 years ago. 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 June 2023, Redhouse Arts Center Inc reported income of $4.7m and spending of $2.9m, leaving 37% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.6m to $4.7m (+82%), an average of +16% a year. The sharpest change came in the year to June 2022, when income rose by 161%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Redhouse Arts Center Inc 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 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Coastal Heritage Society Inc ($4.7m), Twin City Mission ($4.7m) and Palm Beach Gardens Youth Athletic Association ($4.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $18k (0.6% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $53.2m against liabilities of $45.2m, net assets of $8.0m. It reported 220 employees.