Art Lab Inc

Analysis

Art Lab Inc is a registered charity in United States, based in Staten Island, NY. It received its IRS tax-exemption ruling in March 1983, 43 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 June 2023, Art Lab Inc reported income of $331k and spending of $348k, spending 105% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $304k to $331k (+9.2%), an average of +2.2% a year. The sharpest change came in the year to June 2020, when income dropped by 22%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Art Lab Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 60th percentile within NY. Charities of a similar size with the same main cause include The Childrens Museum of the Brazos Valley ($331k), Chisholm Trail Museum Inc ($331k) and Behind the Scene International ($331k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 19% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $80k (23% of expenses). Other salaries and wages came to $118k. At year end it held assets of $96k against liabilities of $49k, net assets of $47k. It reported 30 employees.