Florida Academy of Performing Arts Inc

Analysis

Florida Academy of Performing Arts Inc is a registered charity in United States, based in Brandon, FL. It received its IRS tax-exemption ruling in October 2016, 10 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Florida Academy of Performing Arts Inc reported income of $566k and spending of $684k, spending 121% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $268k to $566k (+111%), an average of +45% a year. The sharpest change came in the year to December 2023, when income rose by 64%. Over the whole period it spent 107% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Florida Academy of Performing Arts Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 74th percentile within FL. Charities of a similar size with the same main cause include Handy Foundation Corporation ($565k), Factory Two Inc ($566k) and Belvidere Foundation ($565k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.3% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $116k (17% of expenses). At year end it held assets of $50k against liabilities of $217k, net assets of -$167k.