Newark School of the Arts Inc

Analysis

Newark School of the Arts Inc is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in February 1969, 57 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, Newark School of the Arts Inc reported income of $1.1m and spending of $1.4m, spending 128% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $1.2m to $1.1m (-12%), an average of -3.1% a year. The sharpest change came in the year to June 2021, when income dropped by 17%. Over the whole period it spent 106% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Newark School of the Arts Inc sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 83rd percentile within NJ. Charities of a similar size with the same main cause include Mindleaps ($1.1m), Friends of Florence ($1.1m) and Springfield Symphony Orchestra Association ($1.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 60% and program service revenue 40% of the total. Other salaries and wages came to $936k. At year end it held assets of $968k against liabilities of $297k, net assets of $672k. It reported 66 employees.