Arts Gowanus Inc

Analysis

Arts Gowanus Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in September 2007, 19 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 December 2023, Arts Gowanus Inc reported income of $500k and spending of $348k, leaving 30% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $235k to $500k (+113%), an average of +113% a year. The sharpest change came in the year to December 2023, when income rose by 113%. Over the whole period it spent 71% 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 Gowanus Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 66th percentile within NY. Charities of a similar size with the same main cause include Lions & Rabbits Center for the Arts ($500k), Coronado Island Film Festival ($500k) and National Society of the Daughters of the American Revolution ($500k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 40% and program service revenue 60% of the total. Compensation of current officers, directors and key employees was $111k (32% of expenses). Other salaries and wages came to $61k. At year end it held assets of $291k against liabilities of $18k, net assets of $273k. It reported 3 employees.