Public Art Fund Inc

Analysis

Public Art Fund Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 1977, 49 years ago. 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, Public Art Fund Inc reported income of $6.9m and spending of $5.6m, spending 81% of its income. Across the 6 years on record, from June 2019 to December 2023, income grew from $6.3m to $6.9m (+9.7%), an average of +1.9% a year. The sharpest change came in the year to December 2023, when income rose by 63%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Public Art Fund Inc 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 94th percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Flathead Valley Community College Foundation Inc ($6.9m), Vip Services Inc ($6.9m) and Child and Family Services of Northwestern Michigan Inc ($6.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $770k (14% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $10.2m against liabilities of $1.5m, net assets of $8.8m. It reported 34 employees.