Washington Project for the Arts Inc

Analysis

Washington Project for the Arts Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in June 1997, 29 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, Washington Project for the Arts Inc reported income of $488k and spending of $689k, spending 141% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $473k to $488k (+3.1%), an average of +0.8% a year. The sharpest change came in the year to June 2021, when income rose by 42%. Over the whole period it spent 112% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Washington Project for the Arts Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 43rd percentile within DC. Charities of a similar size with the same main cause include Historic Manassas Inc ($488k), Ballet North Texas ($488k) and Waldo Theater Inc ($488k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% and program service revenue 2.4% of the total. Compensation of current officers, directors and key employees was $87k (13% of expenses). Other salaries and wages came to $204k. At year end it held assets of $482k against liabilities of $195k, net assets of $287k. It reported 5 employees.