New City Arts Initiative

Analysis

New City Arts Initiative is a registered charity in United States, based in Charlottesvle, VA. It received its IRS tax-exemption ruling in July 2010, 16 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 June 2023, New City Arts Initiative reported income of $318k and spending of $279k, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $218k to $318k (+46%), an average of +10% a year. The sharpest change came in the year to June 2022, when income rose by 70%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, New City Arts Initiative sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 62nd percentile within VA. Charities of a similar size with the same main cause include Push Physical Theatre Inc ($318k), Clackamas County Historical Society ($318k) and Darke County Center for the Arts Inc ($318k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 8.0% of the total. Compensation of current officers, directors and key employees was $73k (26% of expenses). Other salaries and wages came to $84k. At year end it held assets of $200k against liabilities of $5,200, net assets of $194k. It reported 4 employees.