School of the Performing Arts in the Richmond Community Sparc

Analysis

School of the Performing Arts in the Richmond Community Sparc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in March 1985, 41 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, School of the Performing Arts in the Richmond Community Sparc reported income of $1.5m and spending of $1.9m, spending 127% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $2.4m to $1.5m (-37%), an average of -11% a year. The sharpest change came in the year to August 2021, when income rose by 52%. 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, School of the Performing Arts in the Richmond Community Sparc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within VA. Charities of a similar size with the same main cause include The Family Effect ($1.5m), East Tennessee Historical Society Inc ($1.5m) and Unity Performing Arts Foundation Inc ($1.5m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 60% and program service revenue 38% of the total. Compensation of current officers, directors and key employees was $101k (5.2% of expenses). Other salaries and wages came to $943k. At year end it held assets of $4.6m against liabilities of $319k, net assets of $4.3m. It reported 129 employees.