Family Arts Needlework Shop Inc

Analysis

Family Arts Needlework Shop Inc is a registered charity in United States, based in Phoenix, AZ. It received its IRS tax-exemption ruling in June 2023, 3 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 July 2024, Family Arts Needlework Shop Inc reported income of $234k and spending of $270k, spending 115% of what it took in. Across the 6 years on record, from July 2019 to July 2024, income grew from $174k to $234k (+34%), an average of +6.1% a year. The sharpest change came in the year to July 2022, when income rose by 52%. Over the whole period it spent 96% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Family Arts Needlework Shop Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 54th percentile within AZ. Charities of a similar size with the same main cause include Friends of Shirati ($234k), Grove Education Foundation for Excellence Inc ($234k) and Motown Soup Inc ($234k).

On its Form 990 for the period ending July 2024, revenue came from contributions and grants 16% and program service revenue 60% of the total. Compensation of current officers, directors and key employees was $59k (22% of expenses). Other salaries and wages came to $39k. At year end it held assets of $182k against liabilities of $34k, net assets of $148k. It reported 2 employees.