Dearmon Creative Arts School Inc

Analysis

Dearmon Creative Arts School Inc is a registered charity in United States, based in Lutz, FL. It received its IRS tax-exemption ruling in January 2010, 16 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 May 2023, Dearmon Creative Arts School Inc reported income of $791k and spending of $760k, spending 96% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $480k to $791k (+65%), an average of +13% a year. The sharpest change came in the year to May 2022, when income rose by 37%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Dearmon Creative Arts School Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 79th percentile within FL. Charities of a similar size with the same main cause include Urzone Inc ($791k), Northwest Arkansas Communitycreative Center ($791k) and Oklahoma Repertory Theatre Group Incorporated ($791k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 14% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $111k (15% of expenses). Other salaries and wages came to $166k. At year end it held assets of $282k against liabilities of $2,285, net assets of $280k. It reported 14 employees.