Hunakai Studio of Fine Arts Inc

Analysis

Hunakai Studio of Fine Arts Inc is a registered charity in United States, based in Foxboro, MA. It received its IRS tax-exemption ruling in November 2007, 19 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 2022, Hunakai Studio of Fine Arts Inc reported income of $278k and spending of $338k, spending 122% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $284k to $278k (-2.0%), an average of -0.7% a year. The sharpest change came in the year to December 2021, when income rose by 51%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hunakai Studio of Fine Arts Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 62nd percentile within MA. Charities of a similar size with the same main cause include Justice for Kurds Inc ($278k), Arts & Education Continuum Inc ($278k) and Music House Museum ($278k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 5.5% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $143k (42% of expenses). Other salaries and wages came to $56k. At year end it held assets of $202k against liabilities of $192k, net assets of $10k. It reported 3 employees.