Pratt Fine Arts Center

Analysis

Pratt Fine Arts Center is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in October 1983, 43 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, Pratt Fine Arts Center reported income of $2.5m and spending of $2.9m, spending 115% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $3.1m to $2.5m (-18%), an average of -4.9% a year. The sharpest change came in the year to August 2021, when income dropped by 32%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Pratt Fine Arts Center sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within WA. Charities of a similar size with the same main cause include Higher Ambition Leadership Alliance Inc ($2.5m), Academy Center of the Arts Inc ($2.5m) and Casa Belvedere the Italian Cultural Foundation Inc ($2.5m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 36% and program service revenue 60% of the total. At year end it held assets of $6.4m against liabilities of $1.2m, net assets of $5.1m. It reported 142 employees.