Young Aspirations-Young Artists Inc

Analysis

Young Aspirations-Young Artists Inc is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in July 1990, 36 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 December 2022, Young Aspirations-Young Artists Inc reported income of $553k and spending of $724k, spending 131% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $496k to $553k (+11%), an average of +3.7% a year. The sharpest change came in the year to December 2021, when income rose by 36%. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Young Aspirations-Young Artists Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 70th percentile within LA. Charities of a similar size with the same main cause include Spirit of St Louis Air Show ($553k), Long Island Council of Churches ($553k) and All Austin Cooperative Nursery School ($553k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 69% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $85k (12% of expenses). Other salaries and wages came to $290k. At year end it held assets of $2.0m against liabilities of $287k, net assets of $1.7m. It reported 19 employees.