Venice Institute for Performing Arts Center Management Inc

Analysis

Venice Institute for Performing Arts Center Management Inc is a registered charity in United States, based in Venice, FL. It received its IRS tax-exemption ruling in August 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Venice Institute for Performing Arts Center Management Inc reported income of $1.7m and spending of $1.1m, leaving 39% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.2m to $1.7m (+44%), an average of +9.6% a year. The sharpest change came in the year to June 2022, when income rose by 352%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Venice Institute for Performing Arts Center Management Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within FL. Charities of a similar size with the same main cause include The American Assn of Teachers of Spanish and Portuguese Inc ($1.7m), Southern Vermont Arts Center Incorporated ($1.7m) and The Board of Regents of Gunston Hall Incorporated ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 42% and program service revenue 57% of the total. Other salaries and wages came to $333k. At year end it held assets of $584k against liabilities of $198k, net assets of $386k. It reported 27 employees.