Salt Lake Arts Academy

Analysis

Salt Lake Arts Academy is a registered charity in United States, based in Salt Lake Cty, UT. It received its IRS tax-exemption ruling in May 2003, 23 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, Salt Lake Arts Academy reported income of $4.4m and spending of $4.4m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.5m to $4.4m (+27%), an average of +6.2% a year. The sharpest change came in the year to June 2021, when income rose by 15%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Salt Lake Arts Academy sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within UT. Charities of a similar size with the same main cause include Cornerstone Christian Academy for Learning and Leadership ($4.4m), Independent Paths to Learning ($4.4m) and German School Brooklyn ($4.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% and program service revenue 8.5% of the total. Compensation of current officers, directors and key employees was $117k (2.6% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $6.6m against liabilities of $7.3m, net assets of -$703k. It reported 70 employees.