American Corporation of the Arts

Analysis

American Corporation of the Arts is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in November 1983, 43 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 December 2023, American Corporation of the Arts reported income of $1.2m and spending of $1.8m, spending 157% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.4m to $1.2m (-17%), an average of -4.6% a year. The sharpest change came in the year to December 2020, when income dropped by 120%. Over the whole period it spent 124% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, American Corporation of the Arts sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within CA. Charities of a similar size with the same main cause include Youth in Arts ($1.2m), Misameach ($1.2m) and The Ricardo Montalban Foundation Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.6% of the total. At year end it held assets of $2.1m against liabilities of $1.9m, net assets of $169k.