Connecticut Academy for the Arts

Analysis

Connecticut Academy for the Arts is a registered charity in United States, based in Torrington, CT. It received its IRS tax-exemption ruling in March 2011, 15 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 December 2023, Connecticut Academy for the Arts reported income of $117k and spending of $67k, leaving 43% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $60k to $117k (+95%), an average of +95% a year. The sharpest change came in the year to December 2023, when income rose by 95%. Over the whole period it spent 67% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Connecticut Academy for the Arts sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 39th percentile within CT. Charities of a similar size with the same main cause include ZCS Transportation Inc ($117k), X Academy ($117k) and Perry Public Library Foundation Inc ($117k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 0.4% of the total. At year end it held assets of $237k against liabilities of $74k, net assets of $163k.