Neighborhood Studios of Fairfield County Inc

Analysis

Neighborhood Studios of Fairfield County Inc is a registered charity in United States, based in Bridgeport, CT. It received its IRS tax-exemption ruling in April 1979, 47 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 August 2023, Neighborhood Studios of Fairfield County Inc reported income of $921k and spending of $907k, spending 99% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $816k to $921k (+13%), an average of +3.1% a year. The sharpest change came in the year to August 2022, when income rose by 47%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Neighborhood Studios of Fairfield County Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 77th percentile within CT. Charities of a similar size with the same main cause include Beverly Hills Performing Arts Center Inc ($921k), North Country Childrens Museum ($921k) and Arlington Center for the Arts Inc ($920k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 59% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $87k (9.6% of expenses). Other salaries and wages came to $464k. At year end it held assets of $374k against liabilities of $714k, net assets of -$339k. It reported 70 employees.