Studio 23

Analysis

Studio 23 is a registered charity in United States, based in Bay City, MI. It received its IRS tax-exemption ruling in September 1963, 63 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, Studio 23 reported income of $369k and spending of $428k, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $332k to $369k (+11%), an average of +2.7% a year. The sharpest change came in the year to December 2021, when income rose by 30%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Studio 23 sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 65th percentile within MI. Charities of a similar size with the same main cause include Canal Society of New York State Inc ($369k), Young Peoples Theater ($369k) and Cache Corporation ($369k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 46% and program service revenue 46% of the total. Compensation of current officers, directors and key employees was $58k (14% of expenses). Other salaries and wages came to $120k. At year end it held assets of $1.2m against liabilities of $36k, net assets of $1.2m. It reported 6 employees.