Elastic Arts Foundation

Analysis

Elastic Arts Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in February 2004, 22 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 August 2023, Elastic Arts Foundation reported income of $627k and spending of $488k, leaving 22% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $362k to $627k (+73%), an average of +15% a year. The sharpest change came in the year to August 2021, when income rose by 66%. Over the whole period it spent 84% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Elastic Arts Foundation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within IL. Charities of a similar size with the same main cause include Blue Barn Theatre ($627k), Museum of East Texas ($627k) and Lanai Culture & Heritage Center ($627k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 70% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $69k (14% of expenses). Other salaries and wages came to $77k. At year end it held assets of $437k against liabilities of $25k, net assets of $412k. It reported 4 employees.