Verge Center for the Arts

Analysis

Verge Center for the Arts is a registered charity in United States, based in Sacramento, CA. It received its IRS tax-exemption ruling in March 2012, 14 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Verge Center for the Arts reported income of $893k and spending of $798k, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $662k to $893k (+35%), an average of +7.7% a year. The sharpest change came in the year to December 2023, when income rose by 36%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Verge Center for the Arts sits at the 85th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within CA. Charities of a similar size with the same main cause include Chesapeake Tri-Association Inc ($893k), Winnsboro Center for the Arts ($893k) and Love Now Media Inc ($892k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $77k (9.6% of expenses). Other salaries and wages came to $286k. At year end it held assets of $1.9m against liabilities of $1.6m, net assets of $286k. It reported 24 employees.