Key West Art Center Inc

Analysis

Key West Art Center Inc is a registered charity in United States, based in Key West, FL. It received its IRS tax-exemption ruling in July 1992, 34 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 December 2023, Key West Art Center Inc reported income of $154k and spending of $161k, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $124k to $154k (+24%), an average of +5.5% a year. The sharpest change came in the year to December 2021, when income rose by 24%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Key West Art Center Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 52nd percentile within FL. Charities of a similar size with the same main cause include Willinet Inc ($154k), Grime Studios ($154k) and Music Teachers Association of California Foundation ($154k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 24% of the total. Other salaries and wages came to $61k. At year end it held assets of $426k against liabilities of $39k, net assets of $387k. It reported 4 employees.