LA Romita School of Art Inc

Analysis

LA Romita School of Art Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in November 1984, 42 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, LA Romita School of Art Inc reported income of $297k and spending of $346k, spending 117% of what it took in. Across the 3 years on record, from December 2019 to December 2023, income fell from $380k to $297k (-22%), an average of -12% a year. The sharpest change came in the year to December 2022, when income dropped by 31%. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, LA Romita School of Art Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 35th percentile within DC. Charities of a similar size with the same main cause include Durham Firemens Supplemental Retirement System ($297k), Farmers Union Senior Citizens Housing Inc ($297k) and Kansas Association of Local Health Departments ($297k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.0% and program service revenue 98% of the total. Other salaries and wages came to $93k. At year end it held assets of $117k against liabilities of $294k, net assets of -$177k. It reported 1 employees.