Art Council Inc

Analysis

Art Council Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in September 1998, 28 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 September 2023, Art Council Inc reported income of $1.7m and spending of $1.5m, spending 86% of its income. Across the 3 years on record, from September 2019 to September 2023, income fell from $2.3m to $1.7m (-24%), an average of -13% a year. The sharpest change came in the year to September 2022, when income dropped by 39%. Over the whole period it spent 80% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Art Council Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Boys and Girls Clubs of Miami-Dade Foundation Inc ($1.7m), Dabos All in Team ($1.7m) and BPCC Foundation Inc ($1.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 68% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $140k (9.4% of expenses). Other salaries and wages came to $291k. At year end it held assets of $1.8m against liabilities of $80k, net assets of $1.7m. It reported 8 employees.