Eastern Iowa Arts Academy

Analysis

Eastern Iowa Arts Academy is a registered charity in United States, based in Cedar Rapids, IA. It received its IRS tax-exemption ruling in October 2007, 19 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2024, Eastern Iowa Arts Academy reported income of $317k and spending of $347k, spending 110% of what it took in. Across the 6 years on record, from August 2019 to August 2024, income fell from $401k to $317k (-21%), an average of -4.6% a year. The sharpest change came in the year to August 2020, when income dropped by 15%. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Eastern Iowa Arts Academy sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 65th percentile within IA. Charities of a similar size with the same main cause include Kent State University Research Corporation ($317k), University of Iowa Research Park Corporation ($317k) and Becket Athenaeum Inc ($317k).

On its Form 990 for the period ending August 2024, revenue came from contributions and grants 58% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $64k (18% of expenses). Other salaries and wages came to $115k. At year end it held assets of $357k against liabilities of $118k, net assets of $239k. It reported 9 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.