Foundation for the McKnight Center for the Performing Arts

Analysis

Foundation for the McKnight Center for the Performing Arts is a registered charity in United States, based in Stillwater, OK. It received its IRS tax-exemption ruling in August 2016, 10 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Foundation for the McKnight Center for the Performing Arts reported income of $3.7m and spending of $4.6m, spending 126% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $7.9m to $3.7m (-54%), an average of -18% a year. The sharpest change came in the year to June 2020, when income dropped by 51%. Over the whole period it spent 66% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Foundation for the McKnight Center for the Performing Arts sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within OK. Charities of a similar size with the same main cause include Institute of Classical Architecture and Art Inc ($3.7m), FDM Foundation ($3.7m) and The Girls School of Austin Inc ($3.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 62% and program service revenue 38% of the total. Compensation of current officers, directors and key employees was $277k (6.0% of expenses). Other salaries and wages came to $754k. At year end it held assets of $55.7m against liabilities of $787k, net assets of $55.0m. It reported 123 employees.