Honey Art Academy Inc

Analysis

Honey Art Academy Inc is a registered charity in United States, based in Flushing, NY. 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Honey Art Academy Inc reported income of $150k and spending of $146k, spending 97% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $180k to $150k (-17%), an average of -17% a year. The sharpest change came in the year to December 2023, when income dropped by 17%. 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, Honey Art Academy Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 45th percentile within NY. Charities of a similar size with the same main cause include Lithuanian Opera Company ($150k), Ukrainian Culture Center Foundation Inc ($150k) and Centro Recreativo Portugues de Jamaica Ny Inc ($150k).

On its Form 990-EZ for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $55k against liabilities of $38k, net assets of $17k.