Artsmart

Analysis

Artsmart is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in April 2016, 10 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 July 2023, Artsmart reported income of $771k and spending of $743k, spending 96% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $87k to $771k (+791%), an average of +73% a year. The sharpest change came in the year to July 2020, when income rose by 360%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Artsmart sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within PA. Charities of a similar size with the same main cause include Zootown Arts Community Center ($771k), Town Square Television ($771k) and Lupa Game Farm Inc ($770k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 95% of the total. Other salaries and wages came to $147k. At year end it held assets of $227k against liabilities of $155k, net assets of $73k. It reported 4 employees.