Stitch Buffalo Inc

Analysis

Stitch Buffalo Inc is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in March 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, Stitch Buffalo Inc reported income of $1.1m and spending of $493k, leaving 56% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $222k to $1.1m (+404%), an average of +71% a year. The sharpest change came in the year to December 2023, when income rose by 143%. Over the whole period it spent 64% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Stitch Buffalo Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Lynden Inc ($1.1m), Oregon Shakespearean Festival Endowment Fund Inc ($1.1m) and Kerrville Folk Festival Foundation Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $64k (13% of expenses). Other salaries and wages came to $87k. At year end it held assets of $950k against liabilities of $120k, net assets of $830k. It reported 4 employees.