Oklahoma Arts Institute

Analysis

Oklahoma Arts Institute is a registered charity in United States, based in Oklahoma City, OK. It received its IRS tax-exemption ruling in October 1977, 49 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 2023, Oklahoma Arts Institute reported income of $1.6m and spending of $1.8m, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $1.6m (+15%), an average of +3.5% a year. The sharpest change came in the year to December 2021, when income rose by 41%. Over the whole period it spent 107% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Oklahoma Arts Institute 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 85th percentile within OK. Charities of a similar size with the same main cause include New Ballet School Downtown San Jose Inc ($1.6m), Landmarks Association of St Louis Inc ($1.6m) and Jewel Theatre Company ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% and program service revenue 8.5% of the total. Compensation of current officers, directors and key employees was $116k (6.6% of expenses). Other salaries and wages came to $333k. At year end it held assets of $2.4m against liabilities of $298k, net assets of $2.1m. It reported 9 employees.

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.