Arts Marketplace at Studio Park

Analysis

Arts Marketplace at Studio Park is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in March 2022, 4 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, Arts Marketplace at Studio Park reported income of $174k and spending of $374k, spending 214% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $440k to $174k (-60%), an average of -60% a year. The sharpest change came in the year to December 2023, when income dropped by 60%. Over the whole period it spent 122% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Arts Marketplace at Studio Park sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 50th percentile within MI. Charities of a similar size with the same main cause include Al-Nahda Centernfp ($174k), High Concept Laboratories NFP ($174k) and Benefit Tomorrow ($174k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 41% of the total. Other salaries and wages came to $124k. At year end it held assets of $99k against liabilities of $14k, net assets of $85k. It reported 11 employees.