Palacios House of Arts

Analysis

Palacios House of Arts is a registered charity in United States, based in Baton Rouge, LA. It received its IRS tax-exemption ruling in February 2021, 5 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, Palacios House of Arts reported income of $88k and spending of $81k, spending 92% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $51k to $88k (+73%), an average of +73% a year. The sharpest change came in the year to December 2023, when income rose by 73%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Palacios House of Arts sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 33rd percentile within LA. Charities of a similar size with the same main cause include Friends of the Museum WH Over Museum ($88k), California Fire Museum ($88k) and Seattle Philharmonic Orchestra ($88k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 32% and program service revenue 68% of the total. Other salaries and wages came to $64k. At year end it held assets of $6,975 against liabilities of $0, net assets of $6,975.