Art Center Sarasota

Analysis

Art Center Sarasota is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in October 1943, 83 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 September 2023, Art Center Sarasota reported income of $860k and spending of $818k, spending 95% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $652k to $860k (+32%), an average of +7.2% a year. The sharpest change came in the year to September 2022, when income rose by 117%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Art Center Sarasota sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 80th percentile within FL. Charities of a similar size with the same main cause include Danspace Project Inc ($860k), The in Series Inc ($860k) and Schoharie County Historical Society ($860k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 63% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $127k (15% of expenses). Other salaries and wages came to $210k. At year end it held assets of $1.5m against liabilities of $76k, net assets of $1.4m. It reported 7 employees.