Figment Project Inc

Analysis

Figment Project Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 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 publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Figment Project Inc reported income of $80k and spending of $95k, spending 119% of what it took in. Across the 4 years on record, from June 2020 to June 2024, income fell from $168k to $80k (-52%), an average of -22% a year. The sharpest change came in the year to June 2022, when income dropped by 30%. Over the whole period it spent 111% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Figment Project Inc sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 31st percentile within NY. Charities of a similar size with the same main cause include Hampstead Institute Inc ($80k), Artlands Creative ($80k) and Prince Street Artists Inc ($80k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 88% of the total. At year end it held assets of $257k against liabilities of $189k, net assets of $68k.

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.