Texarts Association for Visual & Performing Arts

Analysis

Texarts Association for Visual & Performing Arts is a registered charity in United States, based in Lakeway, TX. It received its IRS tax-exemption ruling in November 2006, 20 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 August 2023, Texarts Association for Visual & Performing Arts reported income of $1.1m and spending of $887k, leaving 20% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $730k to $1.1m (+52%), an average of +11% a year. The sharpest change came in the year to August 2023, when income rose by 52%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Texarts Association for Visual & Performing Arts sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 84th percentile within TX. Charities of a similar size with the same main cause include Oatlands Inc ($1.1m), Cedar Rapids Museum of Art ($1.1m) and Montgomery County Historical Society Inc ($1.1m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 41% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $72k (8.1% of expenses). Other salaries and wages came to $124k. At year end it held assets of $4.3m against liabilities of $3.9m, net assets of $369k. It reported 4 employees.