Washington Performing Arts Society

Analysis

Washington Performing Arts Society is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in December 1965, 61 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 August 2023, Washington Performing Arts Society reported income of $4.8m and spending of $6.8m, spending 142% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $7.6m to $4.8m (-37%), an average of -11% a year. The sharpest change came in the year to August 2022, when income rose by 60%. Over the whole period it spent 98% 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 Performing Arts Society sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 79th percentile within DC. Charities of a similar size with the same main cause include Cultural Alliance of Medfield ($4.8m), Capitol Center for the Arts ($4.8m) and Memphis Fourth Estate Inc ($4.8m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 67% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $708k (10% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $13.1m against liabilities of $3.0m, net assets of $10.1m. It reported 32 employees.