Washington Studio School Inc

Analysis

Washington Studio School Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in March 1986, 40 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Washington Studio School Inc reported income of $754k and spending of $772k, spending 102% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $652k to $754k (+16%), an average of +3.7% a year. The sharpest change came in the year to August 2022, when income rose by 25%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Washington Studio School Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 50th percentile within DC. Charities of a similar size with the same main cause include Virginia Tech Innovations Corporation ($754k), Olmsted County Historical Society ($754k) and Habitat for Humanity International Inc ($754k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 32% and program service revenue 66% of the total. Compensation of current officers, directors and key employees was $21k (2.7% of expenses). Other salaries and wages came to $353k. At year end it held assets of $581k against liabilities of $93k, net assets of $488k. It reported 18 employees.