Richmond Art Center

Analysis

Richmond Art Center is a registered charity in United States, based in Richmond, CA. It received its IRS tax-exemption ruling in February 1950, 76 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, Richmond Art Center reported income of $1.0m and spending of $1.3m, spending 130% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $1.3m to $1.0m (-25%), an average of -9.2% a year. The sharpest change came in the year to June 2021, when income dropped by 17%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Richmond Art Center sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within CA. Charities of a similar size with the same main cause include Otv Open Television Inc ($1.0m), Peterborough Players Inc ($1.0m) and The Powerhouse ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 62% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $133k (10% of expenses). Other salaries and wages came to $751k. At year end it held assets of $1.1m against liabilities of $127k, net assets of $982k. It reported 53 employees.