Turnaround Arts California

Analysis

Turnaround Arts California is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in December 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 June 2023, Turnaround Arts California reported income of $1.7m and spending of $1.4m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.1m to $1.7m (-20%), an average of -5.5% a year. The sharpest change came in the year to June 2022, when income rose by 231%. Over the whole period it spent 72% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Turnaround Arts California 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 85th percentile within CA. Charities of a similar size with the same main cause include Moveius Contemporary Ballet Inc ($1.7m), Asian Community & Cultural Center ($1.7m) and Catamount Film & Arts Co ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 1.6% of the total. Other salaries and wages came to $566k. At year end it held assets of $3.9m against liabilities of $187k, net assets of $3.7m. It reported 6 employees.