Skyart NFP

Analysis

Skyart NFP is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in July 2004, 22 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 June 2023, Skyart NFP reported income of $1.8m and spending of $1.8m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $972k to $1.8m (+88%), an average of +17% a year. The sharpest change came in the year to June 2021, when income rose by 139%. Over the whole period it spent 86% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Skyart NFP sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within IL. Charities of a similar size with the same main cause include Henegar Performing Arts Center Inc ($1.8m), Patronato Castillo Serralles ($1.8m) and Capitol Theatre Committee ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $139k (7.8% of expenses). Other salaries and wages came to $731k. At year end it held assets of $3.8m against liabilities of $493k, net assets of $3.3m. It reported 16 employees.