Indianapolis Art Center Inc

Analysis

Indianapolis Art Center Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in November 1961, 65 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 August 2023, Indianapolis Art Center Inc reported income of $4.1m and spending of $4.0m, spending 98% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $2.8m to $4.1m (+48%), an average of +10% a year. The sharpest change came in the year to August 2021, when income rose by 55%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Indianapolis Art Center Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within IN. Charities of a similar size with the same main cause include Scholars Strategy Network ($4.1m), South Shore Conservatory of Music Inc ($4.1m) and Boardsource ($4.1m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 50% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $211k (5.2% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $16.2m against liabilities of $888k, net assets of $15.3m. It reported 211 employees.