Hawaii Academy of Recording Arts

Analysis

Hawaii Academy of Recording Arts is a registered charity in United States, based in Honolulu, HI. It received its IRS tax-exemption ruling in June 1982, 44 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 October 2023, Hawaii Academy of Recording Arts reported income of $223k and spending of $195k, spending 88% of its income. Across the 5 years on record, from October 2019 to October 2023, income fell from $305k to $223k (-27%), an average of -7.6% a year. The sharpest change came in the year to October 2022, when income rose by 131%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hawaii Academy of Recording Arts sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 54th percentile within HI. Charities of a similar size with the same main cause include Teens of Color Abroad ($223k), Owatonna Marching Band Boosters ($223k) and Halau Kekuaokalaaualailiahi ($223k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 60% and program service revenue 39% of the total. Other salaries and wages came to $45k. At year end it held assets of $67k against liabilities of $0, net assets of $67k.