Foundry Center for the Arts Inc

Analysis

Foundry Center for the Arts Inc is a registered charity in United States, based in Newburgh, IN. It received its IRS tax-exemption ruling in August 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Foundry Center for the Arts Inc reported income of $128k and spending of $181k, spending 141% of what it took in. Across the 3 years on record, from December 2019 to December 2022, income fell from $268k to $128k (-52%), an average of -31% a year. The sharpest change came in the year to December 2022, when income dropped by 71%. Over the whole period it spent 77% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Foundry Center for the Arts Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 41st percentile within IN. Charities of a similar size with the same main cause include Building Leaders Using Music Education in Haiti ($128k), Georgia National Cemetery Advisory Council Inc ($128k) and Living the Classical Life ($128k).

On its Form 990-EZ for the period ending December 2022, revenue came from contributions and grants 30% and program service revenue 70% of the total. At year end it held assets of $130k against liabilities of $0, net assets of $130k.