Bellas Artes de Caguas Corp

Analysis

Bellas Artes de Caguas Corp is a registered charity in United States, based in Caguas, PR. It received its IRS tax-exemption ruling in May 2021, 5 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, Bellas Artes de Caguas Corp reported income of $1.5m and spending of $1.5m, spending 96% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $338k to $1.5m (+355%), an average of +113% a year. The sharpest change came in the year to June 2022, when income rose by 442%. 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, Bellas Artes de Caguas Corp sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 78th percentile within PR. Charities of a similar size with the same main cause include Enriching Lives Through Music ($1.5m), Packers Heritage Inc ($1.5m) and Wassaic Project Inc ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $126k (8.6% of expenses). Other salaries and wages came to $202k. At year end it held assets of $2.3m against liabilities of $242k, net assets of $2.0m. It reported 8 employees.