First Street Gallery Inc

Analysis

First Street Gallery Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 2006, 20 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, First Street Gallery Inc reported income of $104k and spending of $88k, spending 85% of its income. Across the 2 years on record, from June 2022 to June 2023, income fell from $114k to $104k (-8.1%), an average of -8.1% a year. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, First Street Gallery Inc sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 37th percentile within NY. Charities of a similar size with the same main cause include Halestone Foundation ($104k), Luren Singing Society ($104k) and The Chamber Music Connection Inc ($104k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 23% and program service revenue 24% of the total. At year end it held assets of $22k against liabilities of $329, net assets of $22k.