Palm Beach Insitute for the Entertainment Arts Inc

Analysis

Palm Beach Insitute for the Entertainment Arts Inc is a registered charity in United States, based in Palm BCH GDNS, FL. It received its IRS tax-exemption ruling in June 2004, 22 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 December 2022, Palm Beach Insitute for the Entertainment Arts Inc reported income of $54k and spending of $74k, spending 137% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $35k to $54k (+53%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 37%. Over the whole period it spent 120% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Palm Beach Insitute for the Entertainment Arts Inc sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 25th percentile within FL. Charities of a similar size with the same main cause include Friends of Modern Art ($54k), Camp Moore Historical Association Inc ($54k) and Vocalis Chamber Choir ($54k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 86% and program service revenue 14% of the total. At year end it held assets of $26k against liabilities of $20k, net assets of $6,630.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.