Foundation for Spirituality and the Arts Inc

Analysis

Foundation for Spirituality and the Arts Inc is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in June 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, Foundation for Spirituality and the Arts Inc reported income of $230k and spending of $264k, spending 115% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $151k to $230k (+53%), an average of +24% a year. The sharpest change came in the year to December 2022, when income rose by 58%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Foundation for Spirituality and the Arts Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 62nd percentile within SC. Charities of a similar size with the same main cause include Theater Mitu Inc ($230k), Musica Franklin Inc ($230k) and Arts in Education of the Gorge ($230k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $140k (53% of expenses). At year end it held assets of $56k against liabilities of $23k, net assets of $33k. It reported 2 employees.