Performing Arts Academy

Analysis

Performing Arts Academy is a registered charity in United States, based in HGHLNDS Ranch, CO. It received its IRS tax-exemption ruling in February 2013, 13 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, Performing Arts Academy reported income of $1.3m and spending of $1.1m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $576k to $1.3m (+120%), an average of +22% a year. The sharpest change came in the year to December 2021, when income rose by 48%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Performing Arts Academy sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within CO. Charities of a similar size with the same main cause include Act II Playhouse Ltd ($1.3m), The Desert Biennial ($1.3m) and Faena Arts ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 42% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $51k (4.5% of expenses). Other salaries and wages came to $345k. At year end it held assets of $805k against liabilities of $267k, net assets of $537k. It reported 13 employees.