New England Foundation for the Arts Inc

Analysis

New England Foundation for the Arts Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in September 1976, 50 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 May 2023, New England Foundation for the Arts Inc reported income of $6.2m and spending of $10.7m, spending 174% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income fell from $10.0m to $6.2m (-39%), an average of -12% a year. The sharpest change came in the year to May 2022, when income rose by 131%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, New England Foundation for the Arts Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within MA. Charities of a similar size with the same main cause include California Film Institute ($6.2m), Music Will Inc ($6.2m) and Cultural Council of Greater Jacksonville Inc ($6.2m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 81% and program service revenue 1.8% of the total. Compensation of current officers, directors and key employees was $210k (2.0% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $33.0m against liabilities of $8.1m, net assets of $24.9m. It reported 32 employees.