Visual Art Institute

Analysis

Visual Art Institute is a registered charity in United States, based in Salt Lake Cty, UT. It received its IRS tax-exemption ruling in September 1978, 48 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, Visual Art Institute reported income of $1.0m and spending of $679k, leaving 33% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $301k to $1.0m (+235%), an average of +35% a year. The sharpest change came in the year to December 2023, when income rose by 88%. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Visual Art Institute sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within UT. Charities of a similar size with the same main cause include In the Pines Inc ($1.0m), Bismarck Recreation Council ($1.0m) and Wilmington Downtown Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $129k (19% of expenses). Other salaries and wages came to $106k. It paid $22k in professional fundraising fees. At year end it held assets of $1.5m against liabilities of $981k, net assets of $497k. It reported 11 employees.