The Institute for Art and Olfaction

Analysis

The Institute for Art and Olfaction is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in July 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 (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, The Institute for Art and Olfaction reported income of $257k and spending of $251k, spending 98% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $211k to $257k (+22%), an average of +6.8% a year. The sharpest change came in the year to December 2022, when income rose by 32%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Institute for Art and Olfaction sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 61st percentile within CA. Charities of a similar size with the same main cause include Columbia Basin Allied Arts ($257k), Laredo Center for the Arts Inc ($257k) and Plano Conservancy for Historic Preservation Inc ($257k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 9.9% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $44k (17% of expenses). Other salaries and wages came to $92k. At year end it held assets of $109k against liabilities of $0, net assets of $109k.