The Ridgewood Art Institute Inc

Analysis

The Ridgewood Art Institute Inc is a registered charity in United States, based in Ridgewood, NJ. It received its IRS tax-exemption ruling in November 2021, 5 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 May 2023, The Ridgewood Art Institute Inc reported income of $57k and spending of $82k, spending 144% of what it took in. Across the 6 years on record, from May 2018 to May 2023, income fell from $68k to $57k (-16%), an average of -3.4% a year. The sharpest change came in the year to May 2020, when income dropped by 43%. Over the whole period it spent 139% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Ridgewood Art Institute Inc sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 29th percentile within NJ. Charities of a similar size with the same main cause include Minnesingers Parents Group Inc ($57k), Create Peace Project ($57k) and Massachusetts Junior Classical League Inc ($57k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 74% and program service revenue 28% of the total. At year end it held assets of $534k against liabilities of $0, net assets of $534k.

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.