Richmond Performing Arts Alliance

Analysis

Richmond Performing Arts Alliance is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in December 2001, 25 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, Richmond Performing Arts Alliance reported income of $2.9m and spending of $1.5m, leaving 49% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.7m to $2.9m (+6.5%), an average of +1.6% a year. Over the whole period it spent 55% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Richmond Performing Arts Alliance sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within VA. Charities of a similar size with the same main cause include Carmel Bach Festival Inc ($2.9m), Fort Worth Opera Association Inc ($2.9m) and Burchfield-Penney Art Center ($2.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 61% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $133k (9.1% of expenses). Other salaries and wages came to $450k. At year end it held assets of $131.2m against liabilities of $7.5m, net assets of $123.8m. It reported 9 employees.