Palo Alto Art Center Foundation

Analysis

Palo Alto Art Center Foundation is a registered charity in United States, based in Palo Alto, CA. It received its IRS tax-exemption ruling in April 1977, 49 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 June 2023, Palo Alto Art Center Foundation reported income of $1.5m and spending of $1.2m, leaving 21% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $773k to $1.5m (+92%), an average of +18% a year. The sharpest change came in the year to June 2020, when income rose by 55%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Palo Alto Art Center Foundation 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 84th percentile within CA. Charities of a similar size with the same main cause include Downtown Cabaret Theatre Company of Bridgeport ($1.5m), Conspirare Inc ($1.5m) and Nickel Plate Heritage Railroad Inc ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% and program service revenue 7.6% of the total. Other salaries and wages came to $294k. It paid $13k in professional fundraising fees. At year end it held assets of $1.6m against liabilities of $0, net assets of $1.6m. It reported 3 employees.