Second Street Gallery Inc

Analysis

Second Street Gallery Inc is a registered charity in United States, based in Charlottesvle, VA. It received its IRS tax-exemption ruling in November 1973, 53 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, Second Street Gallery Inc reported income of $302k and spending of $355k, spending 117% of what it took in. Across the 4 years on record, from June 2020 to June 2024, income grew from $249k to $302k (+21%), an average of +6.6% a year. The sharpest change came in the year to June 2024, when income rose by 19%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Second Street Gallery Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 61st percentile within VA. Charities of a similar size with the same main cause include Friends of the Bandshell Inc ($302k), Brownbody ($302k) and Th@562 Network Inc ($302k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 18% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $67k (19% of expenses). Other salaries and wages came to $53k. At year end it held assets of $64k against liabilities of $0, net assets of $64k. It reported 5 employees.