The Center for Arts & Innovation Inc

Analysis

The Center for Arts & Innovation Inc is a registered charity in United States, based in Boca Raton, FL. It received its IRS tax-exemption ruling in September 2019, 7 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 December 2023, The Center for Arts & Innovation Inc reported income of $6.6m and spending of $1.2m, leaving 81% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $320k to $6.6m (+1963%), an average of +113% a year. The sharpest change came in the year to December 2021, when income rose by 373%. Over the whole period it spent 23% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Center for Arts & Innovation Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within FL. Charities of a similar size with the same main cause include Coolidge Corner Theatre Foundation Inc ($6.6m), Geva Theatre Center Inc ($6.6m) and Stamford Center for the Arts Inc ($6.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $225k (18% of expenses). Other salaries and wages came to $156k. At year end it held assets of $16.1m against liabilities of $4.5m, net assets of $11.6m. It reported 3 employees.