Jack Arts Inc

Analysis

Jack Arts Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 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, Jack Arts Inc reported income of $329k and spending of $623k, spending 189% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $409k to $329k (-19%), an average of -5.3% a year. The sharpest change came in the year to December 2023, when income dropped by 52%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Jack Arts Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 60th percentile within NY. Charities of a similar size with the same main cause include Alabama River Region Ballet School and Youth Company ($329k), Project Danztheatre Company ($329k) and Dusti Bonge Art Foundation Inc ($329k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $134k (22% of expenses). Other salaries and wages came to $79k. At year end it held assets of $1.1m against liabilities of $534k, net assets of $571k. It reported 7 employees.