Hoyt Center for the Arts

Analysis

Hoyt Center for the Arts is a registered charity in United States, based in New Castle, PA. It received its IRS tax-exemption ruling in December 2014, 12 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 supporting organisation (type iii functionally integrated) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Hoyt Center for the Arts reported income of $2.1m and spending of $939k, leaving 55% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.9m to $2.1m (+8.4%), an average of +2.0% a year. The sharpest change came in the year to June 2022, when income rose by 79%. Over the whole period it spent 46% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hoyt Center for the Arts sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within PA. Charities of a similar size with the same main cause include Hobart Preservation Foundation ($2.1m), White Bear Center for the Arts ($2.1m) and Neighborhood Playhouse Inc ($2.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.2% of the total. Other salaries and wages came to $430k. At year end it held assets of $26.2m against liabilities of $10k, net assets of $26.1m. It reported 13 employees.