Art of Problem Solving Initiative Inc

Analysis

Art of Problem Solving Initiative Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 2004, 22 years ago. 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 May 2023, Art of Problem Solving Initiative Inc reported income of $7.6m and spending of $6.5m, spending 85% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $3.4m to $7.6m (+128%), an average of +23% a year. The sharpest change came in the year to May 2021, when income rose by 118%. Over the whole period it spent 70% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Art of Problem Solving Initiative Inc sits at the 94th percentile: it is larger than about 94% 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 Ari of Connecticut Inc ($7.6m), Orange County Association for Mental Health ($7.6m) and Georgia Tech Alumni Association Inc ($7.6m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $680k (11% of expenses). Other salaries and wages came to $3.0m. At year end it held assets of $13.0m against liabilities of $222k, net assets of $12.8m. It reported 195 employees.