Artbeat Li Inc

Analysis

Artbeat Li Inc is a registered charity in United States, based in Patchogue, NY. It received its IRS tax-exemption ruling in October 1998, 28 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 June 2024, Artbeat Li Inc reported income of $179k and spending of $178k, spending 100% of its income. Across the 3 years on record, from June 2020 to June 2024, income fell from $235k to $179k (-24%), an average of -13% a year. The sharpest change came in the year to June 2023, when income dropped by 42%. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Artbeat Li Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 49th percentile within NY. Charities of a similar size with the same main cause include Trauma Intervention Program of Northern Nevada Inc ($179k), Epilepsy Fund of Western New York Inc ($179k) and Giles Community Apartments Corporation ($179k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 31% and program service revenue 69% of the total. At year end it held assets of $84k against liabilities of $18k, net assets of $67k.