Storm King Art Center

Analysis

Storm King Art Center is a registered charity in United States, based in New Windsor, NY. It received its IRS tax-exemption ruling in November 1961, 65 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 December 2023, Storm King Art Center reported income of $8.4m and spending of $9.8m, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $11.7m to $8.4m (-28%), an average of -7.9% a year. The sharpest change came in the year to December 2023, when income dropped by 39%. Over the whole period it spent 77% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Storm King Art Center sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Guardian Org Foundation ($8.4m), Atlantic Gateway Communications Inc ($8.4m) and University of Rhode Island Research Foundation ($8.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $939k (9.6% of expenses). Other salaries and wages came to $3.8m. At year end it held assets of $78.3m against liabilities of $1.9m, net assets of $76.4m. It reported 117 employees.