Building for the Arts Ny Inc

Analysis

Building for the Arts Ny Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in June 1977, 49 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, Building for the Arts Ny Inc reported income of $4.0m and spending of $5.4m, spending 137% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.5m to $4.0m (-12%), an average of -3.1% a year. The sharpest change came in the year to December 2021, when income rose by 219%. Over the whole period it spent 108% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Building for the Arts Ny Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 88th percentile within NY. Charities of a similar size with the same main cause include Community Resource Exchange ($4.0m), 67th Precinct Clergy Council Inc ($4.0m) and Verde ($4.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $1.2m (22% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $28.0m against liabilities of $1.4m, net assets of $26.6m. It reported 61 employees.