Live Arts Inc

Analysis

Live Arts Inc is a registered charity in United States, based in Charlottesvle, VA. It received its IRS tax-exemption ruling in June 1990, 36 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 June 2023, Live Arts Inc reported income of $1.0m and spending of $1.1m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $984k to $1.0m (+3.0%), an average of +0.7% a year. The sharpest change came in the year to June 2022, when income rose by 40%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Live Arts Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within VA. Charities of a similar size with the same main cause include Arts Education in Maryland Schools Alliance Inc ($1.0m), Millicent Rogers Museum Inc ($1.0m) and Presbyterian Association of Musicians ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 57% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $75k (6.9% of expenses). Other salaries and wages came to $399k. At year end it held assets of $1.2m against liabilities of $122k, net assets of $1.1m. It reported 16 employees.