Crearte Inc

Analysis

Crearte Inc is a registered charity in United States, based in San Juan, PR. It received its IRS tax-exemption ruling in July 2003, 23 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Crearte Inc reported income of $957k and spending of $955k, spending 100% of its income. Across the 5 years on record, from July 2019 to July 2023, income fell from $1.4m to $957k (-29%), an average of -8.3% a year. The sharpest change came in the year to July 2020, when income dropped by 34%. Over the whole period it spent 113% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Crearte Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 69th percentile within PR. Charities of a similar size with the same main cause include Kids Excel El Paso Inc ($957k), The Independent Shakespeare Co Inc ($957k) and Ashley Gibson Barnett Museum of Art at Florida Southern College Inc ($957k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $683k. At year end it held assets of $151k against liabilities of $642k, net assets of -$492k. It reported 59 employees.