Downtown Art Co

Analysis

Downtown Art Co is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in October 1993, 33 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 2023, Downtown Art Co reported income of $55k and spending of $71k, spending 129% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $81k to $55k (-32%), an average of -9.1% a year. The sharpest change came in the year to June 2022, when income dropped by 43%. 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, Downtown Art Co sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 24th percentile within NY. Charities of a similar size with the same main cause include PTA Texas Congress ($55k), Soroptimist International of the Americas Inc ($55k) and PTA Massachusetts Parent-Teacher Association Inc ($55k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 25% and program service revenue 75% of the total. At year end it held assets of $5.7m against liabilities of $2.1m, net assets of $3.6m.