Galaxy Arts MV Inc

Analysis

Galaxy Arts MV Inc is a registered charity in United States, based in Oak Bluffs, MA. It received its IRS tax-exemption ruling in June 2023, 3 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 June 2023, Galaxy Arts MV Inc reported income of $66k and spending of $74k, spending 113% of what it took in. Across the 2 years on record, from June 2021 to June 2023, income grew from $36k to $66k (+84%), an average of +84% a year. The sharpest change came in the year to June 2023, when income rose by 84%. Over the whole period it spent 112% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Galaxy Arts MV Inc sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 34th percentile within MA. Charities of a similar size with the same main cause include Willamette Valley Symphony ($66k), Depace Museum Library and Learning Center Inc ($66k) and Brookville Community Theatre ($66k).

On its Form 990-EZ for the period ending June 2023, revenue came from program service revenue 57% of the total. At year end it held assets of $127k against liabilities of $0, net assets of $127k.