Karass Arts Project Inc

Analysis

Karass Arts Project Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in November 2007, 19 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 December 2023, Karass Arts Project Inc reported income of $52k and spending of $52k, spending 100% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $102k to $52k (-49%), an average of -49% a year. The sharpest change came in the year to December 2023, when income dropped by 49%. 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, Karass Arts Project Inc sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 18th percentile within KY. Charities of a similar size with the same main cause include Grumbling Gryphons Traveling Childrens Theater Company ($52k), Friends of Master Gardeners of Santa Clara County ($52k) and Pops at the Post Inc ($52k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $782 against liabilities of $42k, net assets of -$41k.