Impact Arts Inc

Analysis

Impact Arts Inc is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in April 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Impact Arts Inc reported income of $257k and spending of $279k, spending 109% of what it took in. Across the 2 years on record, from December 2021 to December 2022, income fell from $267k to $257k (-3.8%), an average of -3.8% a year. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Impact Arts Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 63rd percentile within TX. Charities of a similar size with the same main cause include Chicago Independent Radio Project ($257k), The Wharton Esherick Museum ($257k) and India Association of Greenville Inc ($257k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 58% and program service revenue 36% of the total. At year end it held assets of $22k against liabilities of $1,475, net assets of $21k.