Art Sweats Inc

Analysis

Art Sweats Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in June 1995, 31 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 2023, Art Sweats Inc reported income of $380k and spending of $431k, spending 113% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $437k to $380k (-13%), an average of -3.4% a year. The sharpest change came in the year to June 2022, when income rose by 124%. Over the whole period it spent 82% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Art Sweats Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 62nd percentile within NY. Charities of a similar size with the same main cause include Apogaea Incorporated ($380k), Michigan Architectural Foundation ($380k) and The Branson Arts Council Inc ($380k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 29% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $56k (13% of expenses). Other salaries and wages came to $139k. At year end it held assets of $361k against liabilities of $8,791, net assets of $352k. It reported 18 employees.