Rye Art Center Inc

Analysis

Rye Art Center Inc is a registered charity in United States, based in Rye, NY. It received its IRS tax-exemption ruling in June 1962, 64 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 June 2023, Rye Art Center Inc reported income of $3.2m and spending of $1.7m, leaving 46% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.1m to $3.2m (+194%), an average of +43% a year. The sharpest change came in the year to June 2023, when income rose by 116%. Over the whole period it spent 76% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Rye Art Center Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 86th percentile within NY. Charities of a similar size with the same main cause include American Association for Anatomy ($3.2m), Royal Oak Foundation Inc ($3.2m) and International Bluegrass Music Museum Inc ($3.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 71% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $116k (6.7% of expenses). Other salaries and wages came to $507k. It paid $133k in professional fundraising fees. At year end it held assets of $2.7m against liabilities of $216k, net assets of $2.5m. It reported 20 employees.