Downtown Art Center

Analysis

Downtown Art Center is a registered charity in United States, based in Honolulu, HI. It received its IRS tax-exemption ruling in September 2001, 25 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Downtown Art Center reported income of $779k and spending of $802k, spending 103% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $227k to $779k (+243%), an average of +85% a year. The sharpest change came in the year to December 2022, when income rose by 190%. Over the whole period it spent 83% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Art Center sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within HI. Charities of a similar size with the same main cause include Burke Partnership for Economic Development Inc ($779k), Tremont West Development Corporation ($779k) and Ticonderoga Revitalization Alliance Inc ($779k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 28% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $41k (5.1% of expenses). Other salaries and wages came to $51k. At year end it held assets of $317k against liabilities of $0, net assets of $317k.