Studio Art Quilt Assoc Inc

Analysis

Studio Art Quilt Assoc Inc is a registered charity in United States, based in Hebron, CT. It received its IRS tax-exemption ruling in June 1995, 31 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, Studio Art Quilt Assoc Inc reported income of $1.3m and spending of $1.5m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.3m (+14%), an average of +3.4% a year. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Studio Art Quilt Assoc Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within CT. Charities of a similar size with the same main cause include Grout Museum Inc ($1.3m), Federal City Performing Arts Association Inc ($1.3m) and Carolina Christian Radio Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $120k (8.2% of expenses). Other salaries and wages came to $284k. At year end it held assets of $925k against liabilities of $520k, net assets of $405k. It reported 6 employees.