Renaissance Arts Academy

Analysis

Renaissance Arts Academy is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in January 2004, 22 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Renaissance Arts Academy reported income of $9.5m and spending of $7.6m, leaving 20% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.2m to $9.5m (+32%), an average of +7.2% a year. The sharpest change came in the year to June 2023, when income rose by 15%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Renaissance Arts Academy sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within CA. Charities of a similar size with the same main cause include Rtca Inc ($9.5m), Lake Ridge Academy ($9.5m) and Breakthrough ($9.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $480k (6.4% of expenses). Other salaries and wages came to $3.2m. At year end it held assets of $35.2m against liabilities of $22.3m, net assets of $12.9m. It reported 81 employees.