Fire Island Artist Residency Incorporated

Analysis

Fire Island Artist Residency Incorporated is a registered charity in United States, based in Astoria, NY. It received its IRS tax-exemption ruling in July 2014, 12 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 December 2023, Fire Island Artist Residency Incorporated reported income of $66k and spending of $90k, spending 137% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $123k to $66k (-46%), an average of -46% a year. The sharpest change came in the year to December 2023, when income dropped by 46%. Over the whole period it spent 108% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fire Island Artist Residency Incorporated sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 27th percentile within NY. Charities of a similar size with the same main cause include Inland Northwest Musicians Inc ($66k), Turtle Studios Corporation ($66k) and North Okaloosa Historical Association Inc ($66k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 167% of the total. Compensation of current officers, directors and key employees was $43k (48% of expenses). At year end it held assets of $87k against liabilities of $6,250, net assets of $81k.