Nantucket Island School of Design and the Arts

Analysis

Nantucket Island School of Design and the Arts is a registered charity in United States, based in Nantucket, MA. It received its IRS tax-exemption ruling in September 1978, 48 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Nantucket Island School of Design and the Arts reported income of $144k and spending of $564k, spending 393% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $972k to $144k (-85%), an average of -38% a year. The sharpest change came in the year to June 2022, when income rose by 216280%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Nantucket Island School of Design and the Arts sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 51st percentile within MA. Charities of a similar size with the same main cause include Rye Police Association of the City of Rye Inc ($144k), Michigan American Legion Wilwin Lodge ($144k) and Wayne Library Association ($144k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 80% and program service revenue 9.7% of the total. At year end it held assets of $3.0m against liabilities of $508k, net assets of $2.4m.