Wharton Institute for the Performing Arts Inc

Analysis

Wharton Institute for the Performing Arts Inc is a registered charity in United States, based in Berkeley HTS, NJ. It received its IRS tax-exemption ruling in March 1986, 40 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Wharton Institute for the Performing Arts Inc reported income of $3.7m and spending of $4.6m, spending 125% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.7m to $3.7m (+35%), an average of +7.8% a year. The sharpest change came in the year to June 2020, when income rose by 21%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wharton Institute for the Performing Arts Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within NJ. Charities of a similar size with the same main cause include Palomar Health Development Inc ($3.7m), Kline-Welsh Behavioral Health Foundation ($3.7m) and Jewish Federatio of Greater Naples Inc ($3.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 27% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $159k (3.5% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $2.9m against liabilities of $3.1m, net assets of -$281k. It reported 229 employees.