Riverside Arts Center Foundation Inc

Analysis

Riverside Arts Center Foundation Inc is a registered charity in United States, based in Ypsilanti, MI. It received its IRS tax-exemption ruling in January 1996, 30 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, Riverside Arts Center Foundation Inc reported income of $628k and spending of $393k, leaving 37% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $234k to $628k (+169%), an average of +28% a year. The sharpest change came in the year to December 2022, when income rose by 240%. Over the whole period it spent 58% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Riverside Arts Center Foundation Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within MI. Charities of a similar size with the same main cause include Connecticut Electric Railway Association Incorporated ($628k), Art for the Journey ($628k) and Palaver Strings Incorporated ($628k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 19% of the total. Other salaries and wages came to $182k. At year end it held assets of $1.2m against liabilities of $24k, net assets of $1.2m. It reported 6 employees.