Florida Cultural Group Inc

Analysis

Florida Cultural Group Inc is a registered charity in United States, based in Bradenton, FL. It received its IRS tax-exemption ruling in August 1951, 75 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, Florida Cultural Group Inc reported income of $2.6m and spending of $2.3m, spending 89% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.1m to $2.6m (+21%), an average of +6.4% a year. The sharpest change came in the year to June 2022, when income rose by 65%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Florida Cultural Group Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within FL. Charities of a similar size with the same main cause include Armory Arts and Music Center ($2.6m), South Texas Institute for the Arts ($2.6m) and Grand Tacoma Cine Club ($2.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 66% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $135k (5.9% of expenses). Other salaries and wages came to $435k. At year end it held assets of $16.8m against liabilities of $5.4m, net assets of $11.4m. It reported 13 employees.