Kalamazoo Institute of Arts

Analysis

Kalamazoo Institute of Arts is a registered charity in United States, based in Kalamazoo, MI. It received its IRS tax-exemption ruling in July 1942, 84 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 August 2023, Kalamazoo Institute of Arts reported income of $3.4m and spending of $4.5m, spending 132% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $2.6m to $3.4m (+33%), an average of +7.4% a year. The sharpest change came in the year to August 2020, when income rose by 29%. Over the whole period it spent 112% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Kalamazoo Institute of Arts sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within MI. Charities of a similar size with the same main cause include Grand Teton Natural History Association ($3.4m), Halcyon House ($3.4m) and The White House Endowment and Acquisition Trust ($3.4m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 51% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $352k (7.8% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $32.6m against liabilities of $349k, net assets of $32.2m. It reported 129 employees.