Patronato Castillo Serralles

Analysis

Patronato Castillo Serralles is a registered charity in United States, based in Ponce, PR. It received its IRS tax-exemption ruling in November 2016, 10 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 June 2023, Patronato Castillo Serralles reported income of $1.8m and spending of $1.8m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.2m to $1.8m (+58%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 48%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Patronato Castillo Serralles sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 79th percentile within PR. Charities of a similar size with the same main cause include Skyart NFP ($1.8m), Mammoth Site of Hot Springs South Dakota Inc ($1.8m) and Henegar Performing Arts Center Inc ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 38% and program service revenue 46% of the total. Compensation of current officers, directors and key employees was $752k (41% of expenses). At year end it held assets of $2.1m against liabilities of $990k, net assets of $1.1m. It reported 46 employees.