Patriot Art Foundation

Analysis

Patriot Art Foundation is a registered charity in United States, based in Silver Spring, MD. It received its IRS tax-exemption ruling in June 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, Patriot Art Foundation reported income of $62k and spending of $24k, leaving 62% of income unspent that year. Across the 4 years on record, from December 2019 to December 2023, income fell from $273k to $62k (-77%), an average of -39% a year. The sharpest change came in the year to December 2023, when income rose by 974%. Over the whole period it spent 36% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Patriot Art Foundation sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 26th percentile within MD. Charities of a similar size with the same main cause include Professional Dance Network Inc ($62k), Mildreds Umbrella Theater Company ($62k) and Early Era Collective ($62k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $6,900 (29% of expenses). Other salaries and wages came to $1,290. At year end it held assets of $235k against liabilities of $2,363, net assets of $233k.