The Arts Studio Dba Firehouse Art Center

Analysis

The Arts Studio Dba Firehouse Art Center is a registered charity in United States, based in Longmont, CO. It received its IRS tax-exemption ruling in October 1985, 41 years ago. 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 December 2023, The Arts Studio Dba Firehouse Art Center reported income of $185k and spending of $179k, spending 97% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $242k to $185k (-24%), an average of -24% a year. The sharpest change came in the year to December 2023, when income dropped by 24%. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Arts Studio Dba Firehouse Art Center sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 48th percentile within CO. Charities of a similar size with the same main cause include Paralyzed Veterans of America ($185k), Ascend Inc ($185k) and Little League Baseball Inc ($185k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 85% of the total. At year end it held assets of $209k against liabilities of $15k, net assets of $195k.