Premier Arts Incorporated

Analysis

Premier Arts Incorporated is a registered charity in United States, based in Elkhart, IN. It received its IRS tax-exemption ruling in November 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Premier Arts Incorporated reported income of $2.6m and spending of $2.3m, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $899k to $2.6m (+186%), an average of +30% a year. The sharpest change came in the year to December 2023, when income rose by 156%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Premier Arts Incorporated sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within IN. Charities of a similar size with the same main cause include The Northwest Railway Museum ($2.6m), Center for Public Interest Research Inc ($2.6m) and Englert Civic Theatre Inc Non Profit ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 53% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $198k (8.6% of expenses). Other salaries and wages came to $637k. At year end it held assets of $1.1m against liabilities of $375k, net assets of $732k. It reported 53 employees.