Venice Art Center Inc

Analysis

Venice Art Center Inc is a registered charity in United States, based in Venice, FL. It received its IRS tax-exemption ruling in January 1967, 59 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Venice Art Center Inc reported income of $573k and spending of $730k, spending 127% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $748k to $573k (-23%), an average of -8.5% a year. The sharpest change came in the year to December 2021, when income rose by 239%. Over the whole period it spent 73% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Venice Art Center Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 75th percentile within FL. Charities of a similar size with the same main cause include Visceral Dance Chicago NFP ($573k), Parkersburg Art Center Inc ($574k) and Brewery Arts Center ($573k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 27% and program service revenue 60% of the total. Other salaries and wages came to $275k. At year end it held assets of $2.2m against liabilities of $41k, net assets of $2.2m. It reported 12 employees.