Tara Institute of the Performing Arts Incorporated

Analysis

Tara Institute of the Performing Arts Incorporated is a registered charity in United States, based in Boulder, CO. It received its IRS tax-exemption ruling in September 1995, 31 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 July 2023, Tara Institute of the Performing Arts Incorporated reported income of $2.0m and spending of $2.2m, spending 110% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income grew from $1.8m to $2.0m (+10%), an average of +2.4% a year. The sharpest change came in the year to July 2021, when income rose by 16%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Tara Institute of the Performing Arts Incorporated sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within CO. Charities of a similar size with the same main cause include Legion-Aires Drum and Bugle Corps ($2.0m), Fantasy Theatre Factory Inc ($2.0m) and Boise Art Museum Incorporated ($2.0m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 45% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $330k (15% of expenses). Other salaries and wages came to $553k. At year end it held assets of $2.5m against liabilities of $2.1m, net assets of $360k. It reported 25 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.