Business for the Arts of Broward Inc

Analysis

Business for the Arts of Broward Inc is a registered charity in United States, based in Ft Lauderdale, FL. It received its IRS tax-exemption ruling in March 1990, 36 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 December 2023, Business for the Arts of Broward Inc reported income of $392k and spending of $297k, leaving 24% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $273k to $392k (+44%), an average of +20% a year. The sharpest change came in the year to December 2022, when income rose by 25%. Over the whole period it spent 79% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Business for the Arts of Broward Inc sits at the 65th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 69th percentile within FL. Charities of a similar size with the same main cause include United Methodist Church Union ($392k), Continuing Recovery Center Inc ($392k) and St Paul Educational Trust ($392k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 53% of the total. Other salaries and wages came to $14k. At year end it held assets of $254k against liabilities of $26k, net assets of $229k. It reported 2 employees.