Society for the Arts Ltd

Analysis

Society for the Arts Ltd is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in February 1997, 29 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, Society for the Arts Ltd reported income of $162k and spending of $175k, spending 108% of what it took in. Across the 5 years on record, from December 2018 to December 2023, income fell from $253k to $162k (-36%), an average of -10% a year. The sharpest change came in the year to December 2020, when income dropped by 40%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Society for the Arts Ltd sits at the 55th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 50th percentile within IL. Charities of a similar size with the same main cause include Wisconsin Rapids Community Theatre Inc ($162k), Velaslavasay Panorama ($162k) and German Cultural Society St Louis Mo ($162k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 11% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $8,000 (4.6% of expenses). Other salaries and wages came to $12k. At year end it held assets of $21k against liabilities of $130k, net assets of -$109k. It reported 2 employees.