Philadelphia Regional Arts Consortium Inc

Analysis

Philadelphia Regional Arts Consortium Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in February 2021, 5 years ago. 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, Philadelphia Regional Arts Consortium Inc reported income of $588k and spending of $632k, spending 108% of what it took in. Across the 3 years on record, from July 2021 to July 2023, income grew from $466k to $588k (+26%), an average of +12% a year. The sharpest change came in the year to July 2022, when income rose by 30%. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Philadelphia Regional Arts Consortium Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 71st percentile within PA. Charities of a similar size with the same main cause include Simeanna III Inc ($588k), Bay Laurel Elementary School Parent Faculty Association ($588k) and Roseville Community School ($588k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 2.4% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $263k (42% of expenses). At year end it held assets of $191k against liabilities of $2,173, net assets of $188k. It reported 7 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.