Firehouse Performing Arts Center

Analysis

Firehouse Performing Arts Center is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in October 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, Firehouse Performing Arts Center reported income of $1.2m and spending of $1.2m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $711k to $1.2m (+64%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 240%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Firehouse Performing Arts Center 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 81st percentile, and in the 80th percentile within MN. Charities of a similar size with the same main cause include Shokookai of Portland ($1.2m), Nimbus Arts ($1.2m) and Flint River Quarium Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 17% and program service revenue 49% of the total. Compensation of current officers, directors and key employees was $76k (6.1% of expenses). Other salaries and wages came to $242k. At year end it held assets of $413k against liabilities of $175k, net assets of $238k. It reported 15 employees.