Arts Impact Incorporated

Analysis

Arts Impact Incorporated is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in October 2003, 23 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Arts Impact Incorporated reported income of $802k and spending of $854k, spending 107% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $722k to $802k (+11%), an average of +2.7% a year. The sharpest change came in the year to August 2021, when income rose by 40%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Arts Impact Incorporated sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within OH. Charities of a similar size with the same main cause include The House of Songs ($802k), Creative Action Institute Inc ($802k) and Signal Return Inc ($801k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 62% and program service revenue 37% of the total. Other salaries and wages came to $507k. At year end it held assets of $374k against liabilities of $24k, net assets of $350k. It reported 12 employees.