Paine Castle Foundation Inc

Analysis

Paine Castle Foundation Inc is a registered charity in United States, based in Troy, NY. 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 2022, Paine Castle Foundation Inc reported income of $163k and spending of $124k, leaving 24% of income unspent that year. Across the 3 years on record, from December 2020 to December 2022, income grew from $76k to $163k (+114%), an average of +46% a year. The sharpest change came in the year to December 2021, when income rose by 220%. Over the whole period it spent 74% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Paine Castle Foundation Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 47th percentile within NY. Charities of a similar size with the same main cause include Corona Heritage Foundation ($163k), Lewiston Jazz Festival Inc ($163k) and Aqua String Band New Years Associations Inc ($163k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 99% of the total. At year end it held assets of $153k against liabilities of $0, net assets of $153k.