Gage Academy of Art

Analysis

Gage Academy of Art is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in February 2000, 26 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Gage Academy of Art reported income of $2.6m and spending of $3.0m, spending 115% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.9m to $2.6m (-10%), an average of -2.7% a year. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Gage Academy of Art 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 89th percentile within WA. Charities of a similar size with the same main cause include Ensemble Theatre of Cincinnati ($2.6m), Burke Museum Association ($2.6m) and Center for Public Interest Research Inc ($2.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 38% and program service revenue 61% of the total. Compensation of current officers, directors and key employees was $167k (5.7% of expenses). Other salaries and wages came to $1.1m. It paid $93k in professional fundraising fees. At year end it held assets of $2.7m against liabilities of $975k, net assets of $1.8m. It reported 44 employees.