Topaz Arts Inc

Analysis

Topaz Arts Inc is a registered charity in United States, based in Woodside, NY. It received its IRS tax-exemption ruling in April 2001, 25 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Topaz Arts Inc reported income of $260k and spending of $219k, spending 84% of its income. Across the 2 years on record, from June 2022 to June 2023, income fell from $390k to $260k (-33%), an average of -33% a year. The sharpest change came in the year to June 2023, when income dropped by 33%. Over the whole period it spent 57% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Topaz Arts Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 56th percentile within NY. Charities of a similar size with the same main cause include Cheder of Jacksonville Inc ($260k), Badgerland After School Enrichment Program Inc ($260k) and Indian Hill School District Parent Teacher Organization ($260k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 4.2% of the total. Compensation of current officers, directors and key employees was $126k (58% of expenses). At year end it held assets of $560k against liabilities of $877k, net assets of -$317k. It reported 2 employees.