Portsmouth Music and Arts Center Inc

Analysis

Portsmouth Music and Arts Center Inc is a registered charity in United States, based in Portsmouth, NH. It received its IRS tax-exemption ruling in January 2005, 21 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Portsmouth Music and Arts Center Inc reported income of $1.3m and spending of $1.2m, spending 96% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $905k to $1.3m (+40%), an average of +8.7% a year. The sharpest change came in the year to August 2023, when income rose by 17%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Portsmouth Music and Arts Center Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 84th percentile within NH. Charities of a similar size with the same main cause include Whidbey Institute ($1.3m), Destroyer Escort Historical Museum ($1.3m) and Wyoming Humanities Council ($1.3m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 26% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $182k (15% of expenses). Other salaries and wages came to $589k. At year end it held assets of $1.6m against liabilities of $848k, net assets of $733k. It reported 57 employees.