Open Arts Studio Inc

Analysis

Open Arts Studio Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 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, Open Arts Studio Inc reported income of $68k and spending of $53k, leaving 21% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $69k to $68k (-2.4%), an average of -2.4% a year. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Open Arts Studio Inc sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 28th percentile within NY. Charities of a similar size with the same main cause include Bakery Photographic Collective ($68k), Squaw Valley Ski Museum Foundation Inc ($68k) and Ising Community Choir ($68k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 2.0% of the total. At year end it held assets of $25k against liabilities of $0, net assets of $25k.