Arts Power Inc

Analysis

Arts Power Inc is a registered charity in United States, based in Cedar Grove, NJ. It received its IRS tax-exemption ruling in May 1993, 33 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, Arts Power Inc reported income of $216k and spending of $396k, spending 183% of what it took in. Across the 4 years on record, from June 2019 to June 2023, income fell from $941k to $216k (-77%), an average of -39% a year. The sharpest change came in the year to June 2021, when income dropped by 54%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Arts Power Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 62nd percentile within NJ. Charities of a similar size with the same main cause include Los Angeles Korean Musicians Association ($216k), Spencer Penn School Preservation Organization ($216k) and Orange County Current Affairs Forum ($216k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 75% and program service revenue 6.1% of the total. Compensation of current officers, directors and key employees was $229k (58% of expenses). Other salaries and wages came to $23k. At year end it held assets of $72k against liabilities of $49k, net assets of $23k. It reported 4 employees.