Studio 1

Analysis

Studio 1 is a registered charity in United States, based in Burlington, NC. It received its IRS tax-exemption ruling in December 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 June 2023, Studio 1 reported income of $325k and spending of $345k, spending 106% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income grew from $304k to $325k (+6.7%), an average of +6.7% a year. 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, Studio 1 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 62nd percentile within NC. Charities of a similar size with the same main cause include Sleepy Hollow Summer Theatre ($325k), Dogtown Dance Theatre Inc ($325k) and Life Changers Inc ($325k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 40% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $43k (12% of expenses). Other salaries and wages came to $22k. At year end it held assets of $66k against liabilities of $0, net assets of $66k. It reported 3 employees.