Palos Verdes Performing Arts

Analysis

Palos Verdes Performing Arts is a registered charity in United States, based in RLLNG HLS Est, CA. It received its IRS tax-exemption ruling in July 1978, 48 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 June 2023, Palos Verdes Performing Arts reported income of $2.8m and spending of $3.0m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.9m to $2.8m (-3.3%), an average of -0.8% a year. The sharpest change came in the year to June 2022, when income rose by 257%. Over the whole period it spent 98% 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 Performing Arts sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within CA. Charities of a similar size with the same main cause include Florida Humanities Council Inc ($2.8m), Burnon Inc ($2.8m) and Garde Arts Center Inc ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 35% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $211k (6.9% of expenses). Other salaries and wages came to $567k. At year end it held assets of $5.6m against liabilities of $1.3m, net assets of $4.3m. It reported 35 employees.