Foundation for Independent Artists Inc

Analysis

Foundation for Independent Artists Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in November 1981, 45 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 2024, Foundation for Independent Artists Inc reported income of $3.2m and spending of $4.0m, spending 126% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $2.3m to $3.2m (+40%), an average of +7.0% a year. The sharpest change came in the year to June 2022, when income rose by 79%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Foundation for Independent Artists 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 89th percentile, and in the 86th percentile within NY. Charities of a similar size with the same main cause include Maryland Youth Ballet Inc ($3.2m), Fairfield Theatre Company Inc ($3.2m) and Policy Research Inc ($3.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 64% and program service revenue 37% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $2.3m against liabilities of $345k, net assets of $1.9m. It reported 130 employees.