Performing Arts Center Inc

Analysis

Performing Arts Center Inc is a registered charity in United States, based in Highlands, NC. It received its IRS tax-exemption ruling in November 1999, 27 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 December 2022, Performing Arts Center Inc reported income of $1.2m and spending of $569k, leaving 53% of income unspent that year. Across the 5 years on record, from December 2018 to December 2022, income fell from $5.2m to $1.2m (-77%), an average of -31% a year. The sharpest change came in the year to December 2021, when income rose by 86%. Over the whole period it spent 20% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Performing Arts Center Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within NC. Charities of a similar size with the same main cause include Breakthrough BT Media Inc ($1.2m), Great Platte River Road Memorial Foundation ($1.2m) and Childrens Museum of Eau Claire Inc ($1.2m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 82% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $83k (15% of expenses). Other salaries and wages came to $35k. At year end it held assets of $18.0m against liabilities of $1.6m, net assets of $16.4m. It reported 5 employees.