Corvallis Arts Center Inc

Analysis

Corvallis Arts Center Inc is a registered charity in United States, based in Corvallis, OR. It received its IRS tax-exemption ruling in November 1965, 61 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, Corvallis Arts Center Inc reported income of $1.2m and spending of $528k, leaving 58% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $327k to $1.2m (+281%), an average of +40% a year. The sharpest change came in the year to June 2023, when income rose by 268%. Over the whole period it spent 73% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Corvallis Arts Center Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within OR. Charities of a similar size with the same main cause include Worcester Center for Crafts Inc ($1.2m), Woodland Opera House Inc ($1.2m) and Ball & Socket Arts Inc ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 5.7% of the total. Compensation of current officers, directors and key employees was $61k (12% of expenses). Other salaries and wages came to $222k. At year end it held assets of $957k against liabilities of $19k, net assets of $938k. It reported 12 employees.