Romare Bearden Foundation Inc

Analysis

Romare Bearden Foundation Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 2004, 22 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, Romare Bearden Foundation Inc reported income of $604k and spending of $563k, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $119k to $604k (+408%), an average of +50% a year. The sharpest change came in the year to December 2021, when income rose by 110%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Romare Bearden Foundation Inc 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 69th percentile within NY. Charities of a similar size with the same main cause include Music in the Vineyards Inc ($604k), Spring Hill Arts Gathering Inc ($604k) and Artists Working in Education Inc ($604k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% and program service revenue 5.4% of the total. Other salaries and wages came to $368k. At year end it held assets of $2.7m against liabilities of $119k, net assets of $2.6m. It reported 3 employees.