Art for Progress Inc

Analysis

Art for Progress Inc is a registered charity in United States, based in Weehawken, NJ. It received its IRS tax-exemption ruling in August 2005, 21 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 July 2024, Art for Progress Inc reported income of $61k and spending of $65k, spending 107% of what it took in. Across the 3 years on record, from July 2022 to July 2024, income fell from $87k to $61k (-30%), an average of -16% a year. The sharpest change came in the year to July 2023, when income dropped by 41%. Over the whole period it spent 107% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Art for Progress Inc sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 31st percentile within NJ. Charities of a similar size with the same main cause include Colonial Dames of Amer Natl Society in the State Alabama Memorial TR ($61k), Forge Theatre Inc ($61k) and Tarumi Violin Childrens Foundation for the Arts ($61k).

On its Form 990-EZ for the period ending July 2024, revenue came from contributions and grants 83% and program service revenue 17% of the total. At year end it held assets of $27k against liabilities of $1,207, net assets of $25k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.