Avenue of the Arts Inc

Analysis

Avenue of the Arts Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in February 1993, 33 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 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 December 2023, Avenue of the Arts Inc reported income of $907k and spending of $834k, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $443k to $907k (+105%), an average of +20% a year. The sharpest change came in the year to December 2021, when income rose by 86%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Avenue of the Arts Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 76th percentile within PA. Charities of a similar size with the same main cause include Ballet Pensacola Inc ($907k), Rennie Harris Pure Movement ($908k) and Liga Estudiantes de Arte de San Juan Inc P O Box 5181 ($907k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% of the total. Compensation of current officers, directors and key employees was $122k (15% of expenses). Other salaries and wages came to $57k. At year end it held assets of $1.7m against liabilities of $1.4m, net assets of $328k. It reported 3 employees.