Studio Ace

Analysis

Studio Ace is a registered charity in United States, based in Oceanside, CA. It received its IRS tax-exemption ruling in October 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Studio Ace reported income of $289k and spending of $312k, spending 108% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $242k to $289k (+20%), an average of +9.4% a year. The sharpest change came in the year to December 2022, when income rose by 22%. Over the whole period it spent 100% 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 Ace sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 63rd percentile within CA. Charities of a similar size with the same main cause include City of South Salt Lake Arts Council Inc ($289k), Milwaukee Road Historical Association Inc ($289k) and Seekonk Cable Access Inc ($289k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $50k (16% of expenses). Other salaries and wages came to $55k. At year end it held assets of $120k against liabilities of $5,082, net assets of $114k. It reported 4 employees.