Palenke Arts

Analysis

Palenke Arts is a registered charity in United States, based in Seaside, CA. It received its IRS tax-exemption ruling in January 2020, 6 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, Palenke Arts reported income of $858k and spending of $532k, leaving 38% of income unspent that year. Across the 4 years on record, from June 2021 to June 2024, income grew from $223k to $858k (+286%), an average of +57% a year. The sharpest change came in the year to June 2022, when income rose by 91%. Over the whole period it spent 64% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Palenke Arts sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 79th percentile within CA. Charities of a similar size with the same main cause include Open Source Gallery Inc ($858k), Play Group Theater for Children and Young Adults Inc ($858k) and Stearns County Historical Society Inc ($857k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 95% and program service revenue 5.3% of the total. Compensation of current officers, directors and key employees was $109k (20% of expenses). Other salaries and wages came to $201k. At year end it held assets of $1.8m against liabilities of $1.1m, net assets of $733k. It reported 9 employees.