Galveston Arts Center Inc

Analysis

Galveston Arts Center Inc is a registered charity in United States, based in Galveston, TX. It received its IRS tax-exemption ruling in January 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 August 2023, Galveston Arts Center Inc reported income of $568k and spending of $587k, spending 103% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $509k to $568k (+11%), an average of +2.8% a year. The sharpest change came in the year to August 2023, when income rose by 34%. 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, Galveston Arts Center Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 76th percentile within TX. Charities of a similar size with the same main cause include Western Institute for Social Research ($568k), One West 54th Street Foundation ($568k) and Starling Productions Inc ($567k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 84% and program service revenue 11% of the total. Other salaries and wages came to $220k. At year end it held assets of $3.2m against liabilities of $15k, net assets of $3.2m. 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.