Bluseed Studios Inc

Analysis

Bluseed Studios Inc is a registered charity in United States, based in Saranac Lake, 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Bluseed Studios Inc reported income of $115k and spending of $153k, spending 133% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $215k to $115k (-47%), an average of -14% a year. The sharpest change came in the year to December 2020, when income dropped by 56%. Over the whole period it spent 108% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Bluseed Studios Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 39th percentile within NY. Charities of a similar size with the same main cause include William Harris Homestead Foundation Inc ($115k), Hungarian Community Club Inc ($115k) and Smithville Fiddlers Jamboree Crafts Festival ($115k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% and program service revenue 7.3% of the total. Other salaries and wages came to $26k. At year end it held assets of $271k against liabilities of $215k, net assets of $56k. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.