Arete Living Arts Foundation

Analysis

Arete Living Arts Foundation is a registered charity in United States, based in Long Island City, NY. It received its IRS tax-exemption ruling in May 2024, 2 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 December 2023, Arete Living Arts Foundation reported income of $191k and spending of $211k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $218k to $191k (-13%), an average of -3.3% a year. The sharpest change came in the year to December 2021, when income rose by 33%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Arete Living Arts Foundation sits at the 59th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 50th percentile within NY. Charities of a similar size with the same main cause include Northwest Dance Network ($191k), Red Oak Grand Theatre Inc ($191k) and Street Theatre Company ($191k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 9.6% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $1,927 (0.9% of expenses). At year end it held assets of $15k against liabilities of $0, net assets of $15k.