Arts for Art Inc

Analysis

Arts for Art Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 1998, 28 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 July 2023, Arts for Art Inc reported income of $589k and spending of $702k, spending 119% of what it took in. Across the 4 years on record, from July 2019 to July 2023, income grew from $379k to $589k (+55%), an average of +16% a year. The sharpest change came in the year to July 2021, when income rose by 70%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Arts for Art Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 69th percentile within NY. Charities of a similar size with the same main cause include American Motorcycle Heritage Foundation ($589k), Students for a Free Tibet Inc ($589k) and The Chicago Mosaic School ($589k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 79% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $162k (23% of expenses). At year end it held assets of $72k against liabilities of $0, net assets of $72k. It reported 6 employees.