Palm Arts

Analysis

Palm Arts is a registered charity in United States, based in Telluride, CO. It received its IRS tax-exemption ruling in December 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Palm Arts reported income of $455k and spending of $377k, spending 83% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $323k to $455k (+41%), an average of +9.0% a year. The sharpest change came in the year to June 2022, when income rose by 97%. Over the whole period it spent 80% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Palm Arts sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 66th percentile within CO. Charities of a similar size with the same main cause include Great Lakes Academy Support Corporation ($455k), Katie Weingartner Foundation ($455k) and Moemaka Multimedia ($455k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 28% and program service revenue 62% of the total. Other salaries and wages came to $238k. At year end it held assets of $1.1m against liabilities of $14k, net assets of $1.1m. It reported 8 employees.