Studio Montclair Inc

Analysis

Studio Montclair Inc is a registered charity in United States, based in Montclair, NJ. It received its IRS tax-exemption ruling in November 1999, 27 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 July 2023, Studio Montclair Inc reported income of $377k and spending of $410k, spending 109% of what it took in. Across the 3 years on record, from July 2021 to July 2023, income grew from $325k to $377k (+16%), an average of +7.7% a year. Over the whole period it spent 108% 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 Montclair Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 71st percentile within NJ. Charities of a similar size with the same main cause include North Topeka Arts District Inc ($377k), New Horizon Theather Inc ($377k) and Gatewood Martin Mansion Foundation ($377k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 42% and program service revenue 58% of the total. Other salaries and wages came to $237k. At year end it held assets of $3,048 against liabilities of $63k, net assets of -$60k. It reported 3 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.