Florida Craftart Inc

Analysis

Florida Craftart Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in May 1974, 52 years ago. 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 2022, Florida Craftart Inc reported income of $537k and spending of $580k, spending 108% of what it took in. Across the 5 years on record, from September 2019 to December 2022, income grew from $499k to $537k (+7.5%), an average of +1.8% a year. The sharpest change came in the year to December 2022, when income rose by 55%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Florida Craftart Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 74th percentile within FL. Charities of a similar size with the same main cause include S J Housing Development Fund Co Inc ($537k), Wingman Foundation ($537k) and West Hancock County Ambulance Serv Inc ($536k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 51% and program service revenue 19% of the total. Other salaries and wages came to $256k. At year end it held assets of $1.6m against liabilities of $324k, net assets of $1.3m. It reported 9 employees.