Laredo Center for the Arts Inc

Analysis

Laredo Center for the Arts Inc is a registered charity in United States, based in Laredo, TX. It received its IRS tax-exemption ruling in May 1981, 45 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 2022, Laredo Center for the Arts Inc reported income of $257k and spending of $313k, spending 122% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $200k to $257k (+28%), an average of +8.7% a year. Over the whole period it spent 113% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Laredo Center for the Arts Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 63rd percentile within TX. Charities of a similar size with the same main cause include The Institute for Art and Olfaction ($257k), Friends of the Halstead Inc ($257k) and Columbia Basin Allied Arts ($257k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $63k. At year end it held assets of $39k against liabilities of $0, net assets of $39k. It reported 7 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.