New Art Publications Inc

Analysis

New Art Publications Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 1986, 40 years ago. 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 December 2023, New Art Publications Inc reported income of $2.5m and spending of $2.1m, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $2.5m (+38%), an average of +8.4% a year. The sharpest change came in the year to December 2023, when income rose by 57%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Art Publications Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Tzedek Association Inc ($2.5m), Crawford County Opportunity Center Inc ($2.5m) and Macdonald-Laurier Institute ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 7.4% of the total. Compensation of current officers, directors and key employees was $118k (5.6% of expenses). Other salaries and wages came to $825k. At year end it held assets of $2.0m against liabilities of $113k, net assets of $1.9m. It reported 14 employees.