Grace Arts Center Inc

Analysis

Grace Arts Center Inc is a registered charity in United States, based in Ft Lauderdale, FL. It received its IRS tax-exemption ruling in February 2013, 13 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 December 2023, Grace Arts Center Inc reported income of $522k and spending of $350k, leaving 33% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.8m to $522k (-81%), an average of -34% a year. The sharpest change came in the year to December 2021, when income rose by 114%. Over the whole period it spent 20% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Grace Arts Center Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 73rd percentile within FL. Charities of a similar size with the same main cause include Virginia Foundation for Agriculture in the Classroom ($522k), Radio for the Blind and Print Handicapped Inc ($522k) and Hula Preservation Society ($521k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% and program service revenue 15% of the total. At year end it held assets of $2.8m against liabilities of $44k, net assets of $2.7m.