Spruce Peak Arts Center Foundation Inc

Analysis

Spruce Peak Arts Center Foundation Inc is a registered charity in United States, based in Stowe, VT. It received its IRS tax-exemption ruling in May 2004, 22 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending October 2023, Spruce Peak Arts Center Foundation Inc reported income of $1.4m and spending of $1.9m, spending 134% of what it took in. Across the 4 years on record, from October 2020 to October 2023, income grew from $876k to $1.4m (+61%), an average of +17% a year. The sharpest change came in the year to October 2022, when income rose by 78%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Spruce Peak Arts Center Foundation Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 81st percentile within VT. Charities of a similar size with the same main cause include County Theater Inc ($1.4m), Mast Inc ($1.4m) and Virginia War Memorial Foundation Inc ($1.4m).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 56% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $90k (4.7% of expenses). Other salaries and wages came to $631k. At year end it held assets of $6.6m against liabilities of $228k, net assets of $6.4m. It reported 15 employees.