Craft Institute

Analysis

Craft Institute is a registered charity in United States, based in Lexington, MA. It received its IRS tax-exemption ruling in May 2022, 4 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, Craft Institute reported income of $162k and spending of $85k, leaving 48% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $180k to $162k (-10.0%), an average of -2.6% a year. The sharpest change came in the year to December 2021, when income rose by 518%. Over the whole period it spent 44% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Craft Institute sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 53rd percentile within MA. Charities of a similar size with the same main cause include Ilwaco Heritage Foundation ($162k), Dance and Body Works Inc ($162k) and Delaware Academy of Science Inc ($162k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $227k against liabilities of $0, net assets of $227k.