Silver Art Projects Inc

Analysis

Silver Art Projects Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 2021, 5 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, Silver Art Projects Inc reported income of $164k and spending of $532k, spending 325% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $1.1m to $164k (-85%), an average of -47% a year. The sharpest change came in the year to December 2021, when income dropped by 71%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Silver Art Projects Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 47th percentile within NY. Charities of a similar size with the same main cause include Ghana National Council of Metropolitan Chicago ($164k), Aguijon II Theater Company ($164k) and Heartbeat Foundation Corp ($164k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 123% of the total. Other salaries and wages came to $218k. At year end it held assets of $289k against liabilities of $371k, net assets of -$82k. It reported 5 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.