House Foundation for the Arts Inc

Analysis

House Foundation for the Arts Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 1972, 54 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 June 2023, House Foundation for the Arts Inc reported income of $805k and spending of $920k, spending 114% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $834k to $805k (-3.5%), an average of -1.2% a year. The sharpest change came in the year to June 2022, when income rose by 37%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, House Foundation for the Arts Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 73rd percentile within NY. Charities of a similar size with the same main cause include Wisconsin Vietnam Veterans Memorial Project Inc ($804k), Norman Arts and Humanities Council ($805k) and SLB Radio Productions Inc ($804k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 58% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $236k (26% of expenses). Other salaries and wages came to $197k. At year end it held assets of $658k against liabilities of $216k, net assets of $442k. It reported 17 employees.