Cityarts Inc

Analysis

Cityarts Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 1974, 52 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 August 2023, Cityarts Inc reported income of $582k and spending of $683k, spending 117% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $609k to $582k (-4.3%), an average of -1.1% a year. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Cityarts Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within NY. Charities of a similar size with the same main cause include Balzekas Museum of Lithuanian Culture ($582k), Acappella Ministries Inc ($582k) and Federation of Croatian Societies Inc ($582k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $161k (24% of expenses). At year end it held assets of $1.2m against liabilities of $23k, net assets of $1.2m. It reported 7 employees.