Carpe Diem Arts Inc

Analysis

Carpe Diem Arts Inc is a registered charity in United States, based in Silver Spring, MD. It received its IRS tax-exemption ruling in November 2017, 9 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 2024, Carpe Diem Arts Inc reported income of $429k and spending of $449k, spending 105% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $227k to $429k (+89%), an average of +17% a year. The sharpest change came in the year to June 2022, when income rose by 49%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Carpe Diem Arts Inc sits at the 75th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 67th percentile within MD. Charities of a similar size with the same main cause include Glen Arbor Arts Center ($429k), Triangle Productions ($429k) and Billings Preservation Society Inc ($429k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 61% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $93k (21% of expenses). Other salaries and wages came to $37k. At year end it held assets of $86k against liabilities of $72k, net assets of $14k. It reported 8 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.