Louisville Visual Art Inc

Analysis

Louisville Visual Art Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in November 1946, 80 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 May 2023, Louisville Visual Art Inc reported income of $1.1m and spending of $1.0m, spending 99% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $728k to $1.1m (+45%), an average of +9.8% a year. The sharpest change came in the year to May 2022, when income rose by 99%. Over the whole period it spent 75% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Louisville Visual Art Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within KY. Charities of a similar size with the same main cause include American Society of Extracorporeal Technology Inc ($1.1m), American Islamic Community Center Inc ($1.1m) and Dallas Spark ($1.1m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 64% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $91k (8.7% of expenses). Other salaries and wages came to $293k. At year end it held assets of $3.0m against liabilities of $268k, net assets of $2.7m. It reported 7 employees.