NXT Art Foundation Inc

Analysis

NXT Art Foundation Inc is a registered charity in United States, based in Santa Clarita, CA. It received its IRS tax-exemption ruling in February 2017, 9 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, NXT Art Foundation Inc reported income of $221k and spending of $637k, spending 289% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.3m to $221k (-83%), an average of -36% a year. The sharpest change came in the year to December 2022, when income rose by 462%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, NXT Art Foundation Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 58th percentile within CA. Charities of a similar size with the same main cause include Chamber Music Amici ($221k), Mdsa Foundation ($221k) and Welsh North American Association Inc ($221k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. Other salaries and wages came to $165k. At year end it held assets of $108k against liabilities of $268k, net assets of -$160k.