Vessel for Arts

Analysis

Vessel for Arts is a registered charity in United States, based in Alto, MI. It received its IRS tax-exemption ruling in September 2014, 12 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 May 2024, Vessel for Arts reported income of $406k and spending of $424k, spending 104% of its income. Across the 5 years on record, from May 2020 to May 2024, income grew from $274k to $406k (+48%), an average of +10% a year. The sharpest change came in the year to May 2022, when income rose by 269%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Vessel for Arts sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 67th percentile within MI. Charities of a similar size with the same main cause include Hartville Homes Foundation ($406k), Little Lights of the World Inc ($406k) and Ihsan Worldwide ($406k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 11% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $88k (21% of expenses). At year end it held assets of $48k against liabilities of $4,642, net assets of $43k.