Arts Business Collaborative Inc

Analysis

Arts Business Collaborative Inc is a registered charity in United States, based in Long Is City, NY. It received its IRS tax-exemption ruling in November 2018, 8 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 2023, Arts Business Collaborative Inc reported income of $1.9m and spending of $2.7m, spending 142% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $10.2m to $1.9m (-81%), an average of -43% a year. The sharpest change came in the year to December 2022, when income dropped by 71%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Arts Business Collaborative Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include Partners Achieving Community Transformation Inc ($1.9m), Adla Inc Oic of Wayne County CDC ($1.9m) and Joint Apprenticeship & Training Comm ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 4.0% of the total. Compensation of current officers, directors and key employees was $341k (13% of expenses). Other salaries and wages came to $438k. At year end it held assets of $677k against liabilities of $64k, net assets of $613k. It reported 12 employees.