Homestead Youth Arts Center Inc

Analysis

Homestead Youth Arts Center Inc is a registered charity in United States, based in Homestead, FL. 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, Homestead Youth Arts Center Inc reported income of $298k and spending of $283k, spending 95% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $184k to $298k (+62%), an average of +27% a year. The sharpest change came in the year to December 2022, when income rose by 48%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Homestead Youth Arts Center Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 65th percentile within FL. Charities of a similar size with the same main cause include C G Jung Study Center ($298k), Virginia Highlands Festival Incorporated ($298k) and International Double-Reed Society ($298k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $44k (16% of expenses). At year end it held assets of $51k against liabilities of $704, net assets of $50k.