Sarasota Performing Arts Center Foundation Inc

Analysis

Sarasota Performing Arts Center Foundation Inc is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in May 1988, 38 years ago. 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, Sarasota Performing Arts Center Foundation Inc reported income of $4.4m and spending of $5.6m, spending 128% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.0m to $4.4m (+126%), an average of +23% a year. The sharpest change came in the year to June 2022, when income rose by 37%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Sarasota Performing Arts Center Foundation Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within FL. Charities of a similar size with the same main cause include Destination Imagination Inc ($4.4m), Lynchburg Community Action Group Inc ($4.4m) and El Bethel Terrace Inc ($4.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $703k (12% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $16.6m against liabilities of $667k, net assets of $15.9m. It reported 13 employees.