Nars Foundation Inc

Analysis

Nars Foundation Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in December 2009, 17 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 December 2023, Nars Foundation Inc reported income of $355k and spending of $296k, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $231k to $355k (+54%), an average of +11% a year. The sharpest change came in the year to December 2022, when income rose by 90%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Nars Foundation Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 61st percentile within NY. Charities of a similar size with the same main cause include Community Rejuvenation Project Inc ($355k), The Arts Castle ($355k) and New Jersey Capital Philharmonic Orchestra Inc ($355k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 53% of the total. Other salaries and wages came to $129k. At year end it held assets of $108k against liabilities of $4,145, net assets of $104k. It reported 3 employees.