Culturarte de Puerto Rico Inc

Analysis

Culturarte de Puerto Rico Inc is a registered charity in United States, based in San Juan, PR. It received its IRS tax-exemption ruling in November 2001, 25 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 2023, Culturarte de Puerto Rico Inc reported income of $544k and spending of $574k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $642k to $544k (-15%), an average of -4.1% a year. The sharpest change came in the year to December 2021, when income rose by 126%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Culturarte de Puerto Rico Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 57th percentile within PR. Charities of a similar size with the same main cause include Central New York Jazz Arts Foundation Inc ($544k), Yampa Valley Performing Arts Council ($544k) and Sojourn Counseling ($544k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $25k (4.4% of expenses). At year end it held assets of $1.1m against liabilities of $369k, net assets of $750k. It reported 1 employees.