Venice Arts

Analysis

Venice Arts is a registered charity in United States, based in Marina DL Rey, CA. It received its IRS tax-exemption ruling in April 1994, 32 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 December 2023, Venice Arts reported income of $1.6m and spending of $1.6m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $914k to $1.6m (+75%), an average of +15% a year. The sharpest change came in the year to December 2022, when income rose by 65%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Venice Arts sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within CA. Charities of a similar size with the same main cause include Preservation Alliance for Greater Philadelphia ($1.6m), Thomas Cole Historic House ($1.6m) and Wayne Theatre Alliance Inc ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $120k (7.7% of expenses). Other salaries and wages came to $626k. At year end it held assets of $2.0m against liabilities of $1.0m, net assets of $968k. It reported 66 employees.