Avenue Concept Inc

Analysis

Avenue Concept Inc is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in April 2016, 10 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 2023, Avenue Concept Inc reported income of $1.4m and spending of $1.0m, leaving 25% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $574k to $1.4m (+141%), an average of +34% a year. The sharpest change came in the year to June 2022, when income rose by 63%. Over the whole period it spent 75% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Avenue Concept Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 78th percentile within RI. Charities of a similar size with the same main cause include Honor Flight Columbus Inc ($1.4m), Tryon Palace Foundation Inc ($1.4m) and Comunidad Maya Pixan Ixim Reinforcing Our Roots Living Our M ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 74% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $60k (5.8% of expenses). Other salaries and wages came to $284k. At year end it held assets of $1.1m against liabilities of $28k, net assets of $1.1m. It reported 9 employees.