Ps1 Contemporary Art Center Inc

Analysis

Ps1 Contemporary Art Center Inc is a registered charity in United States, based in Long Is City, NY. It received its IRS tax-exemption ruling in July 1981, 45 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Ps1 Contemporary Art Center Inc reported income of $11.9m and spending of $10.6m, spending 89% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $9.8m to $11.9m (+21%), an average of +4.8% a year. The sharpest change came in the year to June 2020, when income rose by 33%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ps1 Contemporary Art Center Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 94th percentile within NY. Charities of a similar size with the same main cause include Hale Center Foundation for the Arts and Education ($11.9m), Olney Theatre Corporation ($11.9m) and Opera Theatre of Saint Louis ($11.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 5.9% of the total. Compensation of current officers, directors and key employees was $492k (4.6% of expenses). Other salaries and wages came to $3.8m. At year end it held assets of $8.6m against liabilities of $1.0m, net assets of $7.6m. It reported 102 employees.