Raymond F Kravis Center for the Performing Arts Inc

Analysis

Raymond F Kravis Center for the Performing Arts Inc is a registered charity in United States, based in West Palm BCH, FL. It received its IRS tax-exemption ruling in September 1983, 43 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 June 2023, Raymond F Kravis Center for the Performing Arts Inc reported income of $40.5m and spending of $40.8m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $45.5m to $40.5m (-11%), an average of -2.8% a year. The sharpest change came in the year to June 2022, when income rose by 170%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Raymond F Kravis Center for the Performing Arts Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within FL. Charities of a similar size with the same main cause include Liberty Science Center Inc ($40.3m), The Math Learning Center ($40.5m) and Peabody Essex Museum Inc ($40.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 24% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $1.6m (4.0% of expenses). Other salaries and wages came to $8.0m. It paid $49k in professional fundraising fees. At year end it held assets of $205.2m against liabilities of $67.0m, net assets of $138.2m. It reported 237 employees.