Sound Art

Analysis

Sound Art is a registered charity in United States, based in Santa Monica, CA. It received its IRS tax-exemption ruling in July 2002, 24 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 June 2024, Sound Art reported income of $245k and spending of $285k, spending 116% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $153k to $245k (+60%), an average of +12% a year. The sharpest change came in the year to June 2021, when income rose by 967%. Over the whole period it spent 60% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Sound Art sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 60th percentile within CA. Charities of a similar size with the same main cause include Centro Primo Levi ($245k), Summit Theatre Group Inc ($245k) and Liberty Hill Band Boosters Association ($245k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 46% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $91k (32% of expenses). Other salaries and wages came to $117k. At year end it held assets of $2.0m against liabilities of $2,698, net assets of $2.0m. It reported 6 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.