Sofia Quintero Art and Cultural Center

Analysis

Sofia Quintero Art and Cultural Center is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in July 2001, 25 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 June 2023, Sofia Quintero Art and Cultural Center reported income of $408k and spending of $465k, spending 114% of what it took in. Across the 5 years on record, from December 2019 to June 2023, income grew from $389k to $408k (+4.7%), an average of +1.2% a year. The sharpest change came in the year to June 2023, when income rose by 175%. Over the whole period it spent 105% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Sofia Quintero Art and Cultural Center sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 67th percentile within OH. Charities of a similar size with the same main cause include Newport Performing Arts Center ($407k), Wichita Grand Opera Inc ($408k) and Linton Incorporated ($407k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $73k (16% of expenses). Other salaries and wages came to $157k. At year end it held assets of $1.2m against liabilities of $160k, net assets of $1.1m. It reported 9 employees.