Port Aransas Art Center

Analysis

Port Aransas Art Center is a registered charity in United States, based in Port Aransas, TX. It received its IRS tax-exemption ruling in April 1997, 29 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, Port Aransas Art Center reported income of $1.1m and spending of $360k, leaving 68% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $183k to $1.1m (+510%), an average of +57% a year. The sharpest change came in the year to December 2023, when income rose by 319%. Over the whole period it spent 61% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Port Aransas Art Center sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 84th percentile within TX. Charities of a similar size with the same main cause include Ohr-Okeefe Museum of Art Inc ($1.1m), Tybee Island Marine Science Foundation Inc ($1.1m) and Oregon Shakespearean Festival Endowment Fund Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 4.1% of the total. Compensation of current officers, directors and key employees was $75k (21% of expenses). Other salaries and wages came to $57k. At year end it held assets of $1.9m against liabilities of $869k, net assets of $1.0m. It reported 4 employees.