Redhouse Arts Center Inc

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Redhouse Arts Center Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals

Redhouse Arts Center Inc is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Redhouse Arts Center Inc in one place.

Is Redhouse Arts Center Inc Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

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Where the Money Comes From and Where It Goes

Across stored filings, Redhouse Arts Center Inc shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.

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Redhouse Arts Center Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.

About Redhouse Arts Center Inc

Redhouse Arts Center Inc (EIN: 222366669) is a nonprofit organization based in Syracuse, NY. The organization reported total revenue of $3.1M and total assets of $11.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Redhouse Arts Center Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Redhouse Arts Center Inc is a mid-size nonprofit that has been operating for 45 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 18.9%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2023, Redhouse Arts Center Inc reported a surplus of $1.7M with revenue exceeding expenses, holds 217.2 months of operating reserves (strong position), has a debt-to-asset ratio of 85.0% (high leverage).

Financial Trends

Over 13 years of filings (2011–2023), Redhouse Arts Center Inc's revenue has grown at a compound annual growth rate (CAGR) of 18.9%.

IRS Tax-Exempt Classification

Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.

AI Transparency Report

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Redhouse Arts Center Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

• admin: 15%
• programs: 70%
• fundraising: 15%

According to IRS 990 filings, Redhouse Arts Center Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

• The organization reported a surplus of $1.7M, with revenue exceeding expenses.
• Debt-to-asset ratio: 85.0%.

Executive Compensation Analysis

Executive compensation details are not explicitly disclosed in the provided data, preventing a specific assessment of individual salaries.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Redhouse Arts Center Inc's IRS 990 filings:

• Total liabilities of $45,231,139 in 2023 significantly outweigh total assets of $53,230,575, indicating a high debt burden.
• The organization has consistently reported negative net income (expenses exceeding revenue) in several recent years, including a deficit of $294,100 in 2023 and $255,237 in 2022.
• The rapid increase in assets from $5,536,909 in 2016 to $53,230,575 in 2023, coupled with a similar rise in liabilities, suggests significant capital projects or acquisitions that warrant further investigation.

Strengths

The following positive indicators were identified for Redhouse Arts Center Inc:

• Significant revenue growth from $1,288,436 in 2021 to $4,688,149 in 2023 demonstrates increasing community engagement and support.
• The organization has a substantial asset base, indicating a strong physical presence and potential for future programming.
• Consistent operation over many years suggests a stable presence in the Syracuse community.

Frequently Asked Questions about Redhouse Arts Center Inc

Filing History

IRS 990 filing history for Redhouse Arts Center Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Redhouse Arts Center Inc's revenue has grown by 696.5%, moving from $589K to $4.7M. Total assets increased by 2722.7% over the same period, from $1.9M to $53.2M. Total functional expenses rose by 524.2%, from $471K to $2.9M. In its most recent filing year (2023), Redhouse Arts Center Inc reported a surplus of $1.7M, with revenue exceeding expenses. The organization holds $45.2M in liabilities against $53.2M in assets (debt-to-asset ratio: 85.0%), resulting in net assets of $8.0M.

Year-by-Year Financial Summary

• 2023: Revenue of $4.7M, expenses of $2.9M, and assets of $53.2M (revenue +39.5% year-over-year).
• 2022: Revenue of $3.4M, expenses of $2.6M, and assets of $30.4M (revenue +160.9% year-over-year).
• 2021: Revenue of $1.3M, expenses of $1.5M, and assets of $19.8M (revenue -56.6% year-over-year).
• 2020: Revenue of $3.0M, expenses of $3.8M, and assets of $21.5M (revenue +15.5% year-over-year).
• 2019: Revenue of $2.6M, expenses of $3.4M, and assets of $21.3M (revenue -18.3% year-over-year).
• 2018: Revenue of $3.1M, expenses of $3.4M, and assets of $21.4M (revenue -48.4% year-over-year).
• 2017: Revenue of $6.1M, expenses of $4.4M, and assets of $12.0M (revenue +42.6% year-over-year).
• 2016: Revenue of $4.3M, expenses of $3.8M, and assets of $5.5M (revenue +62.5% year-over-year).
• 2015: Revenue of $2.6M, expenses of $2.6M, and assets of $5.1M (revenue +44.0% year-over-year).
• 2014: Revenue of $1.8M, expenses of $1.2M, and assets of $3.4M (revenue +59.7% year-over-year).
• 2013: Revenue of $1.1M, expenses of $1.2M, and assets of $1.8M (revenue +50.4% year-over-year).
• 2012: Revenue of $763K, expenses of $855K, and assets of $1.8M (revenue +29.6% year-over-year).
• 2011: Revenue of $589K, expenses of $471K, and assets of $1.9M.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Redhouse Arts Center Inc:

Data Sources and Methodology

This transparency report for Redhouse Arts Center Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.