California Institute of the Arts

Analysis

California Institute of the Arts is a registered charity in United States, based in Valencia, CA. It received its IRS tax-exemption ruling in June 1963, 63 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, California Institute of the Arts reported income of $119.6m and spending of $113.5m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $95.9m to $119.6m (+25%), an average of +5.7% a year. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, California Institute of the Arts sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include American Physical Society ($118.8m), Mriglobal ($119.6m) and Institute of Gas Technology ($118.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 14% and program service revenue 72% of the total. Compensation of current officers, directors and key employees was $1.4m (1.2% of expenses). Other salaries and wages came to $46.2m. At year end it held assets of $354.5m against liabilities of $56.0m, net assets of $298.6m. It reported 1,908 employees.