Craftnow Philadelphia

Analysis

Craftnow Philadelphia is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in October 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, Craftnow Philadelphia reported income of $354k and spending of $336k, spending 95% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $325k to $354k (+8.8%), an average of +4.3% a year. The sharpest change came in the year to December 2023, when income rose by 24%. Over the whole period it spent 85% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Craftnow Philadelphia sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 63rd percentile within PA. Charities of a similar size with the same main cause include Music Export Memphis ($353k), Westmoreland Arts & Heritage Festival Inc ($354k) and Lowell Arts ($353k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $82k (24% of expenses). Other salaries and wages came to $90k. At year end it held assets of $270k against liabilities of $27k, net assets of $243k. It reported 7 employees.