New England Center for Arts & Technology Inc

Analysis

New England Center for Arts & Technology Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in December 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 December 2023, New England Center for Arts & Technology Inc reported income of $2.6m and spending of $2.5m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.2m to $2.6m (+16%), an average of +3.8% a year. The sharpest change came in the year to December 2021, when income dropped by 24%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New England Center for Arts & Technology Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within MA. Charities of a similar size with the same main cause include Kroenke Sports Charities Inc ($2.6m), Allen County Public Library Foundation ($2.6m) and Island Readers and Writers an Initiative for Maine Children ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $160k (6.3% of expenses). Other salaries and wages came to $895k. It paid $30k in professional fundraising fees. At year end it held assets of $2.2m against liabilities of $1.7m, net assets of $494k. It reported 19 employees.