Palos Verdes Art Center Beverly G Alpay Center for Arts Education

Analysis

Palos Verdes Art Center Beverly G Alpay Center for Arts Education is a registered charity in United States, based in RCH Palos VRD, CA. It received its IRS tax-exemption ruling in March 1964, 62 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, Palos Verdes Art Center Beverly G Alpay Center for Arts Education reported income of $2.3m and spending of $2.3m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.6m to $2.3m (+44%), an average of +9.6% a year. The sharpest change came in the year to June 2021, when income rose by 380%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Palos Verdes Art Center Beverly G Alpay Center for Arts Education sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within CA. Charities of a similar size with the same main cause include Fall River Historical Society ($2.3m), Miami Music Project Inc ($2.3m) and The Magik Theatre ($2.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 23% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $264k (11% of expenses). Other salaries and wages came to $627k. At year end it held assets of $12.8m against liabilities of $738k, net assets of $12.1m. It reported 34 employees.