Future Arts

Analysis

Future Arts is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in May 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 June 2024, Future Arts reported income of $77k and spending of $88k, spending 115% of what it took in. Across the 3 years on record, from June 2022 to June 2024, income grew from $66k to $77k (+16%), an average of +7.6% a year. The sharpest change came in the year to June 2023, when income rose by 237%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Future Arts sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 25th percentile within WA. Charities of a similar size with the same main cause include 55 Mercer Street Artists Inc ($77k), Youth Symphony of Denton ($77k) and Theatre Espresso Incorporated ($77k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 74% and program service revenue 26% of the total. At year end it held assets of $20k against liabilities of $1,250, net assets of $19k.