Houston Advanced Research Center

Analysis

Houston Advanced Research Center is a registered charity in United States, based in Spring, TX. It received its IRS tax-exemption ruling in July 1983, 43 years ago. Its declared purposes cover science and technology, 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 December 2023, Houston Advanced Research Center reported income of $6.9m and spending of $7.1m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.9m to $6.9m (+76%), an average of +15% a year. The sharpest change came in the year to December 2020, when income rose by 112%. Over the whole period it spent 115% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Houston Advanced Research Center sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within TX. Charities of a similar size with the same main cause include National Building Museum ($6.9m), Palace Theatre Trust ($6.9m) and Shelburne Museum Incorporated ($6.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $868k (12% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $7.0m against liabilities of $798k, net assets of $6.2m. It reported 39 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.