The Elizabeth Foundation for the Arts

Analysis

The Elizabeth Foundation for the Arts is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 1992, 34 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, The Elizabeth Foundation for the Arts reported income of $2.9m and spending of $3.1m, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $2.9m (+78%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 31%. Over the whole period it spent 107% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Elizabeth Foundation for the Arts sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 86th percentile within NY. Charities of a similar size with the same main cause include Patrick Henry Memorial Foundation ($2.9m), Museum of Automotive Icons Inc ($2.9m) and Global Investigative Journalism Network ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% and program service revenue 47% of the total. Compensation of current officers, directors and key employees was $74k (2.4% of expenses). Other salaries and wages came to $658k. At year end it held assets of $6.9m against liabilities of $5.7m, net assets of $1.1m. It reported 23 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.