Buffalo Institute for Contemporary Art Inc

Analysis

Buffalo Institute for Contemporary Art Inc is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in June 2018, 8 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 June 2023, Buffalo Institute for Contemporary Art Inc reported income of $301k and spending of $206k, leaving 32% of income unspent that year. Across the 3 years on record, from June 2021 to June 2023, income grew from $156k to $301k (+93%), an average of +39% a year. The sharpest change came in the year to June 2023, when income rose by 128%. 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, Buffalo Institute for Contemporary Art Inc 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 62nd percentile, and in the 58th percentile within NY. Charities of a similar size with the same main cause include Desi Dance Network Incorporated ($301k), Central Oregon Singers Inc ($301k) and Hubzone Technology Initiative Inc ($301k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 80% and program service revenue 7.3% of the total. Compensation of current officers, directors and key employees was $12k (5.8% of expenses). At year end it held assets of $175k against liabilities of $50k, net assets of $125k. It reported 1 employees.