New Mexico School for the Arts Art Institute

Analysis

New Mexico School for the Arts Art Institute is a registered charity in United States, based in Santa Fe, NM. It received its IRS tax-exemption ruling in January 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Mexico School for the Arts Art Institute reported income of $3.9m and spending of $3.1m, leaving 22% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.8m to $3.9m (-32%), an average of -9.2% a year. The sharpest change came in the year to June 2023, when income rose by 34%. Over the whole period it spent 62% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Mexico School for the Arts Art Institute sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within NM. Charities of a similar size with the same main cause include Alabama Alliance for Christian Education Inc ($3.9m), People Sustaining Kings Valley ($3.9m) and Educational Partnership for Instructing Children Inc ($3.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 80% and program service revenue 3.0% of the total. Compensation of current officers, directors and key employees was $137k (4.5% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $29.0m against liabilities of $830k, net assets of $28.2m. It reported 45 employees.