Studio Incamminati

Analysis

Studio Incamminati is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in May 2007, 19 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Studio Incamminati reported income of $1.2m and spending of $1.3m, spending 103% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $971k to $1.2m (+27%), an average of +6.2% a year. The sharpest change came in the year to August 2020, when income rose by 126%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Studio Incamminati sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within PA. Charities of a similar size with the same main cause include The Maine Narrow Gauge Railroad and Industrial Hertiage Trust ($1.2m), Local TV Inc ($1.2m) and Friends of the Longmont Museum ($1.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 36% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $104k (8.2% of expenses). Other salaries and wages came to $223k. At year end it held assets of $3.0m against liabilities of $2.4m, net assets of $588k. It reported 8 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.