Cultural Council of Palm Beach County Inc

Analysis

Cultural Council of Palm Beach County Inc is a registered charity in United States, based in LK Worth BCH, FL. It received its IRS tax-exemption ruling in February 1979, 47 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 September 2023, Cultural Council of Palm Beach County Inc reported income of $5.7m and spending of $5.8m, spending 101% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $3.9m to $5.7m (+46%), an average of +10% a year. The sharpest change came in the year to September 2021, when income rose by 25%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Cultural Council of Palm Beach County Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within FL. Charities of a similar size with the same main cause include The Laundromat Project Inc ($5.7m), Contemporary Arts Museum Houston ($5.7m) and Theatre Squared Inc ($5.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 97% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $576k (10.0% of expenses). Other salaries and wages came to $835k. At year end it held assets of $5.1m against liabilities of $1.4m, net assets of $3.7m. It reported 26 employees.