Grand Central Atelier Inc

Analysis

Grand Central Atelier Inc is a registered charity in United States, based in Ridgewood, NY. It received its IRS tax-exemption ruling in March 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 August 2023, Grand Central Atelier Inc reported income of $1.8m and spending of $2.0m, spending 115% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.5m to $1.8m (+19%), an average of +4.4% a year. The sharpest change came in the year to August 2023, when income rose by 24%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Grand Central Atelier Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include American Airpower Heritage Museum Inc ($1.8m), Palm Springs Friends of Philharmonic ($1.8m) and Motorsports Museum & Hall of Fame of America Foundation Inc ($1.8m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 17% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $137k (6.7% of expenses). Other salaries and wages came to $744k. At year end it held assets of $2.6m against liabilities of $2.4m, net assets of $175k. It reported 30 employees.