Academy of Vocal Arts

Analysis

Academy of Vocal Arts is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in May 1938, 88 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 June 2024, Academy of Vocal Arts reported income of $6.3m and spending of $4.5m, leaving 30% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $4.7m to $6.3m (+34%), an average of +7.6% a year. The sharpest change came in the year to June 2024, when income rose by 19%. Over the whole period it spent 78% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Academy of Vocal Arts sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within PA. Charities of a similar size with the same main cause include Portland Opera Association Inc ($6.3m), Whyhunger Inc ($6.3m) and Signature Theatre Company ($6.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 39% and program service revenue 5.3% of the total. Compensation of current officers, directors and key employees was $383k (8.6% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $50.2m against liabilities of $2.5m, net assets of $47.7m. It reported 90 employees.