Hollywood Art and Culture Center Inc

Analysis

Hollywood Art and Culture Center Inc is a registered charity in United States, based in Hollywood, FL. It received its IRS tax-exemption ruling in March 1980, 46 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, Hollywood Art and Culture Center Inc reported income of $1.6m and spending of $1.5m, spending 92% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.1m to $1.6m (+40%), an average of +8.8% a year. The sharpest change came in the year to September 2021, when income rose by 35%. 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, Hollywood Art and Culture Center Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 86th percentile within FL. Charities of a similar size with the same main cause include Eau Claire Confluence Arts Inc ($1.6m), Seatle to Seatle Japanese School ($1.6m) and Baltimore Clayworks Inc ($1.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 59% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $155k (10% of expenses). Other salaries and wages came to $693k. At year end it held assets of $6.5m against liabilities of $272k, net assets of $6.2m. It reported 17 employees.