Miami Arts Inc

Analysis

Miami Arts Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in November 2013, 13 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 June 2023, Miami Arts Inc reported income of $11.1m and spending of $10.6m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $11.9m to $11.1m (-6.5%), an average of -1.7% a year. The sharpest change came in the year to June 2020, when income dropped by 29%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Miami Arts Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within FL. Charities of a similar size with the same main cause include Summerfield Waldorf School and Farm ($11.1m), Mdyhs Inc ($11.1m) and Rev1 Ventures ($11.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $435k (4.1% of expenses). At year end it held assets of $30.5m against liabilities of $30.2m, net assets of $348k. It reported 112 employees.