Art Academy of Cincinnati

Analysis

Art Academy of Cincinnati is a registered charity in United States, based in Cincinnati, OH. It received its IRS tax-exemption ruling in September 1998, 28 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 May 2023, Art Academy of Cincinnati reported income of $11.2m and spending of $10.8m, spending 97% of its income. Across the 4 years on record, from May 2020 to May 2023, income grew from $8.6m to $11.2m (+30%), an average of +9.2% a year. The sharpest change came in the year to May 2023, when income rose by 18%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Art Academy of Cincinnati 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 OH. Charities of a similar size with the same main cause include German International School Boston Inc ($11.2m), Idea Greater Cincinnati Inc ($11.2m) and Broward Healthy Start Coalition Inc ($11.2m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 15% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $326k (3.0% of expenses). Other salaries and wages came to $3.3m. At year end it held assets of $11.6m against liabilities of $5.3m, net assets of $6.3m. It reported 241 employees.