The Armory Art Center Inc

Analysis

The Armory Art Center Inc is a registered charity in United States, based in West Palm BCH, FL. It received its IRS tax-exemption ruling in November 1987, 39 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Armory Art Center Inc reported income of $2.7m and spending of $2.5m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.6m to $2.7m (+71%), an average of +14% a year. The sharpest change came in the year to June 2020, when income rose by 55%. Over the whole period it spent 105% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Armory Art Center 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 90th percentile within FL. Charities of a similar size with the same main cause include Society for Creative Anachronism Inc ($2.7m), Nevada Test Site Historical Foundation ($2.7m) and Sing for Hope Inc ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 57% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $134k (5.3% of expenses). Other salaries and wages came to $451k. At year end it held assets of $4.5m against liabilities of $522k, net assets of $4.0m. It reported 22 employees.