Ball & Socket Arts Inc

Analysis

Ball & Socket Arts Inc is a registered charity in United States, based in Cheshire, CT. It received its IRS tax-exemption ruling in July 2013, 13 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Ball & Socket Arts Inc reported income of $1.2m and spending of $426k, leaving 66% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $78k to $1.2m (+1489%), an average of +100% a year. The sharpest change came in the year to June 2022, when income rose by 730%. Over the whole period it spent 21% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ball & Socket Arts Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 80th percentile within CT. Charities of a similar size with the same main cause include International Radio and Television ($1.2m), Worcester Center for Crafts Inc ($1.2m) and Opera Association of Central Ohio ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $30k (7.0% of expenses). Other salaries and wages came to $136k. At year end it held assets of $7.7m against liabilities of $4.9m, net assets of $2.8m. It reported 3 employees.