Springfed Arts

Analysis

Springfed Arts is a registered charity in United States, based in Royal Oak, MI. It received its IRS tax-exemption ruling in March 1999, 27 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 2024, Springfed Arts reported income of $79k and spending of $80k, spending 102% of its income. Across the 2 years on record, from June 2023 to June 2024, income grew from $68k to $79k (+16%), an average of +16% a year. The sharpest change came in the year to June 2024, when income rose by 16%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Springfed Arts sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 30th percentile within MI. Charities of a similar size with the same main cause include Scottish Space School Foundation USA ($79k), Cambridge Lighthouse Foundation Inc ($79k) and International Keyboard Odyssiad and Festival Inc ($79k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 22% and program service revenue 73% of the total. At year end it held assets of $21k against liabilities of $749, net assets of $20k.