Freed Performing Arts Inc

Analysis

Freed Performing Arts Inc is a registered charity in United States, based in Ormond Beach, FL. It received its IRS tax-exemption ruling in February 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 December 2023, Freed Performing Arts Inc reported income of $212k and spending of $157k, leaving 26% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $116k to $212k (+83%), an average of +83% a year. The sharpest change came in the year to December 2023, when income rose by 83%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Freed Performing Arts Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 59th percentile within FL. Charities of a similar size with the same main cause include Morrison County Historical Society ($212k), More Than a Single Story Inc ($212k) and Orissa Culture Center Inc ($212k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 42% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $36k (23% of expenses). At year end it held assets of $97k against liabilities of $5,195, net assets of $91k. It reported 1 employees.