Puerto Rican Arts Alliance

Analysis

Puerto Rican Arts Alliance is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in July 1999, 27 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 June 2023, Puerto Rican Arts Alliance reported income of $2.5m and spending of $2.0m, leaving 23% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $996k to $2.5m (+154%), an average of +26% a year. The sharpest change came in the year to June 2022, when income rose by 136%. Over the whole period it spent 75% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Puerto Rican Arts Alliance 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 88th percentile within IL. Charities of a similar size with the same main cause include Gallery North Inc ($2.5m), Hamptons Community Outreach Inc ($2.5m) and Childrens Museum Inc ($2.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 76% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $140k (7.2% of expenses). Other salaries and wages came to $495k. At year end it held assets of $6.1m against liabilities of $259k, net assets of $5.8m. It reported 13 employees.