Follow Your Art Community Studios Inc

Analysis

Follow Your Art Community Studios Inc is a registered charity in United States, based in Melrose, MA. It received its IRS tax-exemption ruling in March 2019, 7 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, Follow Your Art Community Studios Inc reported income of $637k and spending of $508k, leaving 20% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $502k to $637k (+27%), an average of +6.1% a year. The sharpest change came in the year to December 2021, when income rose by 111%. Over the whole period it spent 73% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Follow Your Art Community Studios Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within MA. Charities of a similar size with the same main cause include Elizabeth Lane Oliver Center for the Arts ($636k), Kauai Writers Inc ($637k) and Harvard Lampoon ($636k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 23% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $55k (11% of expenses). Other salaries and wages came to $223k. At year end it held assets of $685k against liabilities of $131k, net assets of $554k. It reported 32 employees.