Art Business Incubator South Padre Island

Analysis

Art Business Incubator South Padre Island is a registered charity in United States, based in S Padre Isle, TX. It received its IRS tax-exemption ruling in May 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Art Business Incubator South Padre Island reported income of $154k and spending of $133k, spending 86% of its income. Across the 2 years on record, from December 2021 to December 2022, income fell from $154k to $154k (-0.1%), an average of -0.1% a year. 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, Art Business Incubator South Padre Island sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 51st percentile within TX. Charities of a similar size with the same main cause include Aamaal ($154k), National Organization of Vietnamese American Leaders of Greater DC ($154k) and Hands-On Robotics Inc ($154k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 58% and program service revenue 14% of the total. Other salaries and wages came to $39k. At year end it held assets of $78k against liabilities of $899, net assets of $77k. It reported 2 employees.