509 Cultural Center

Analysis

509 Cultural Center is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in March 2023, 3 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 October 2023, 509 Cultural Center reported income of $141k and spending of $267k, spending 189% of what it took in. Across the 5 years on record, from October 2019 to October 2023, income fell from $286k to $141k (-51%), an average of -16% a year. The sharpest change came in the year to October 2020, when income rose by 134%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, 509 Cultural Center sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 48th percentile within CA. Charities of a similar size with the same main cause include Historical Society of Western Virginia ($141k), Bengali Association of Minnesota ($141k) and Evergreen Jazz Festival ($141k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 64% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $72k (27% of expenses). At year end it held assets of $553k against liabilities of $33k, net assets of $519k. It reported 2 employees.