International Academy of Fine Art

Analysis

International Academy of Fine Art is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in August 2000, 26 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. 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 June 2023, International Academy of Fine Art reported income of $4.1m and spending of $3.8m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.8m to $4.1m (+8.2%), an average of +2.0% a year. The sharpest change came in the year to June 2022, when income rose by 39%. Over the whole period it spent 94% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, International Academy of Fine Art sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 89th percentile within CT. Charities of a similar size with the same main cause include I-Care Fund America Inc ($4.1m), Engage Now Africa Inc ($4.1m) and Junior Achievement USA ($4.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 6.2% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $201k (5.3% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $7.9m against liabilities of $5.7m, net assets of $2.2m.