Van Goghs Palette Inc

Analysis

Van Goghs Palette Inc is a registered charity in United States, based in Hudson, FL. It received its IRS tax-exemption ruling in March 2002, 24 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Van Goghs Palette Inc reported income of $1.9m and spending of $1.9m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.4m to $1.9m (+35%), an average of +7.8% a year. The sharpest change came in the year to June 2021, when income rose by 32%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Van Goghs Palette Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within FL. Charities of a similar size with the same main cause include Coyote Taskforce ($1.9m), Hope Inspired Ministries Inc ($1.9m) and The Alliance for Pioneer Square ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 3.0% of the total. Compensation of current officers, directors and key employees was $122k (6.4% of expenses). Other salaries and wages came to $873k. At year end it held assets of $3.2m against liabilities of $99k, net assets of $3.1m. It reported 30 employees.