Beverly Art Center

Analysis

Beverly Art Center is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in December 1967, 59 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, Beverly Art Center reported income of $2.0m and spending of $2.5m, spending 125% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.7m to $2.0m (+17%), an average of +4.0% a year. Over the whole period it spent 110% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Beverly Art Center sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within IL. Charities of a similar size with the same main cause include Society of Cosmetic Chemists ($2.0m), New Dramatists Inc ($2.0m) and Park City Performing Arts Foundation ($2.0m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 27% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $102k (4.1% of expenses). Other salaries and wages came to $692k. At year end it held assets of $7.6m against liabilities of $1.1m, net assets of $6.5m. It reported 28 employees.