Sinaca Studios

Analysis

Sinaca Studios is a registered charity in United States, based in Fort Worth, TX. It received its IRS tax-exemption ruling in May 2008, 18 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 December 2023, Sinaca Studios reported income of $598k and spending of $779k, spending 130% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $485k to $598k (+23%), an average of +5.4% a year. The sharpest change came in the year to December 2021, when income rose by 38%. Over the whole period it spent 122% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Sinaca Studios sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 77th percentile within TX. Charities of a similar size with the same main cause include Justice Committee Inc ($598k), Italian Cultural & Community Center of Houston ($598k) and Allegheny Institute for Public Policy ($598k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 28% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $237k (30% of expenses). Other salaries and wages came to $147k. It paid $9,465 in professional fundraising fees. At year end it held assets of $168k against liabilities of $641k, net assets of -$474k. It reported 18 employees.

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.