Queen Sofia Spanish Institute Inc

Analysis

Queen Sofia Spanish Institute Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 1955, 71 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, Queen Sofia Spanish Institute Inc reported income of $1.5m and spending of $1.2m, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $1.5m (+49%), an average of +10% a year. The sharpest change came in the year to December 2023, when income rose by 32%. Over the whole period it spent 85% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Queen Sofia Spanish Institute Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Central Square Theater Inc ($1.5m), Lake Superior Railroad Museum ($1.5m) and Opera Southwest ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 35% of the total. Compensation of current officers, directors and key employees was $272k (22% of expenses). Other salaries and wages came to $254k. At year end it held assets of $26.7m against liabilities of $45k, net assets of $26.7m. It reported 5 employees.