Waco Creative Art Center

Analysis

Waco Creative Art Center is a registered charity in United States, based in Waco, TX. It received its IRS tax-exemption ruling in May 1973, 53 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, Waco Creative Art Center reported income of $466k and spending of $523k, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $810k to $466k (-42%), an average of -13% a year. The sharpest change came in the year to June 2022, when income rose by 152%. Over the whole period it spent 40% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Waco Creative Art Center sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 74th percentile within TX. Charities of a similar size with the same main cause include Galena Center for the Arts Inc ($466k), Evanston History Center ($466k) and National College Testing Association Inc ($466k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 79% and program service revenue 7.6% of the total. Compensation of current officers, directors and key employees was $91k (17% of expenses). At year end it held assets of $4.0m against liabilities of $870k, net assets of $3.1m. It reported 10 employees.