Five Points Center for the Visual Arts Inc

Analysis

Five Points Center for the Visual Arts Inc is a registered charity in United States, based in Torrington, CT. It received its IRS tax-exemption ruling in September 2014, 12 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, Five Points Center for the Visual Arts Inc reported income of $1.3m and spending of $776k, leaving 39% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $427k to $1.3m (+198%), an average of +31% a year. The sharpest change came in the year to December 2021, when income rose by 268%. Over the whole period it spent 43% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Five Points Center for the Visual Arts Inc 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 80th percentile within CT. Charities of a similar size with the same main cause include Women in Bio Inc ($1.3m), Worldwide Indigenous Science Network ($1.3m) and Project Exploration ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% and program service revenue 7.7% of the total. Compensation of current officers, directors and key employees was $51k (6.6% of expenses). Other salaries and wages came to $335k. At year end it held assets of $3.8m against liabilities of $27k, net assets of $3.8m. It reported 12 employees.