Phipps Center for the Arts Inc

Analysis

Phipps Center for the Arts Inc is a registered charity in United States, based in Hudson, WI. It received its IRS tax-exemption ruling in January 1989, 37 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, Phipps Center for the Arts Inc reported income of $1.6m and spending of $2.0m, spending 124% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $1.6m (+10%), an average of +2.5% a year. The sharpest change came in the year to December 2021, when income rose by 46%. Over the whole period it spent 106% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Phipps Center for the Arts Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within WI. Charities of a similar size with the same main cause include Latino Media Collaborative ($1.6m), Mancos Common Press Inc ($1.6m) and Louis J Koch Family Childrens Museum of Evansville Inc ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 36% and program service revenue 47% of the total. Compensation of current officers, directors and key employees was $153k (7.8% of expenses). Other salaries and wages came to $393k. At year end it held assets of $9.0m against liabilities of $114k, net assets of $8.9m. It reported 22 employees.