Velocity Dance Center

Analysis

Velocity Dance Center is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in August 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 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 December 2023, Velocity Dance Center reported income of $686k and spending of $655k, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $631k to $686k (+8.7%), an average of +2.1% a year. The sharpest change came in the year to December 2021, when income rose by 47%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Velocity Dance Center sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 74th percentile within WA. Charities of a similar size with the same main cause include Young Philosophers Society Inc ($686k), American Academy of Political and Social Science ($686k) and Imprints of Honor ($686k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $62k (9.4% of expenses). Other salaries and wages came to $122k. It paid $7,500 in professional fundraising fees. At year end it held assets of $472k against liabilities of $2,753, net assets of $470k. It reported 6 employees.