Locust Street Neighborhood Art Classes Inc

Analysis

Locust Street Neighborhood Art Classes Inc is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in January 1972, 54 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Locust Street Neighborhood Art Classes Inc reported income of $169k and spending of $227k, spending 134% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $122k to $169k (+39%), an average of +8.5% a year. The sharpest change came in the year to June 2021, when income rose by 44%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Locust Street Neighborhood Art Classes Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 48th percentile within NY. Charities of a similar size with the same main cause include Volunteers of America Inc ($169k), Society of the Missionaries of St Francis Xavier ($169k) and Cor Jesu Foundation ($169k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 73% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $43k (19% of expenses). Other salaries and wages came to $101k. At year end it held assets of $136k against liabilities of $4,136, net assets of $131k. It reported 15 employees.