Friends of the Cultural Center Inc

Analysis

Friends of the Cultural Center Inc is a registered charity in United States, based in Palm Desert, CA. It received its IRS tax-exemption ruling in September 1973, 53 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 July 2023, Friends of the Cultural Center Inc reported income of $19.4m and spending of $16.8m, spending 87% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $18.0m to $19.4m (+7.8%), an average of +1.9% a year. The sharpest change came in the year to July 2022, when income rose by 105%. Over the whole period it spent 80% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of the Cultural Center Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within CA. Charities of a similar size with the same main cause include National World War I Museum and Memorial ($19.3m), Philbrook Museum of Art Inc ($19.4m) and Isabella Stewart Gardner Museum Inc ($19.3m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 52% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $1.1m (6.4% of expenses). Other salaries and wages came to $5.0m. At year end it held assets of $57.3m against liabilities of $11.9m, net assets of $45.4m. It reported 145 employees.