Studio at 620 Inc

Analysis

Studio at 620 Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in October 2004, 22 years ago. 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 at 620 Inc reported income of $376k and spending of $433k, spending 115% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $391k to $376k (-3.9%), an average of -1.0% a year. The sharpest change came in the year to June 2022, when income rose by 90%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Studio at 620 Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 68th percentile within FL. Charities of a similar size with the same main cause include The Greensboro Symphony Endowment Fund ($376k), Thomas R Elsasser Memorial Scholarship Fund Inc ($376k) and George Daily Charitable Trust ($376k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 60% and program service revenue 40% of the total. Other salaries and wages came to $175k. At year end it held assets of $61k against liabilities of $11k, net assets of $50k. It reported 3 employees.