Center for the Arts

Analysis

Center for the Arts is a registered charity in United States, based in Crested Butte, CO. It received its IRS tax-exemption ruling in May 1987, 39 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 October 2023, Center for the Arts reported income of $3.0m and spending of $3.5m, spending 118% of what it took in. Across the 5 years on record, from October 2019 to October 2023, income grew from $2.1m to $3.0m (+42%), an average of +9.1% a year. The sharpest change came in the year to October 2020, when income rose by 77%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Center for the Arts sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within CO. Charities of a similar size with the same main cause include Education Leaders of Color Inc ($3.0m), Impression 5 Science Center ($3.0m) and Floating Museum NFP ($3.0m).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 62% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $230k (6.5% of expenses). Other salaries and wages came to $867k. At year end it held assets of $21.9m against liabilities of $1.5m, net assets of $20.4m. It reported 99 employees.