Foundry Project Arts Incubator

Analysis

Foundry Project Arts Incubator is a registered charity in United States, based in Cleveland HTS, OH. It received its IRS tax-exemption ruling in September 2016, 10 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Foundry Project Arts Incubator reported income of $429k and spending of $28k, leaving 93% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $540k to $429k (-21%), an average of -21% a year. The sharpest change came in the year to December 2023, when income dropped by 21%. Over the whole period it spent 5.2% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Foundry Project Arts Incubator sits at the 75th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within OH. Charities of a similar size with the same main cause include Sanchez Art Center ($429k), Texas Folklife Resources ($429k) and Triangle Productions ($429k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $921k against liabilities of $0, net assets of $921k.