Torrance Cultural Arts Center Foundation

Analysis

Torrance Cultural Arts Center Foundation is a registered charity in United States, based in Torrance, CA. It received its IRS tax-exemption ruling in September 1994, 32 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Torrance Cultural Arts Center Foundation reported income of $472k and spending of $352k, leaving 25% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income grew from $417k to $472k (+13%), an average of +3.1% a year. The sharpest change came in the year to July 2021, when income dropped by 53%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Torrance Cultural Arts Center Foundation sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 71st percentile within CA. Charities of a similar size with the same main cause include Washington National Opera ($472k), Explore Childrens Museum of Sun Prairie ($472k) and Clayspace NFP ($472k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 66% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $99k (28% of expenses). Other salaries and wages came to $61k. At year end it held assets of $260k against liabilities of $19k, net assets of $241k. It reported 3 employees.