Narek Cultural Foundation Inc

Analysis

Narek Cultural Foundation Inc is a registered charity in United States, based in Glendale, CA. It received its IRS tax-exemption ruling in May 1994, 32 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, Narek Cultural Foundation Inc reported income of $1.0m and spending of $1.1m, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $861k to $1.0m (+19%), an average of +4.4% a year. The sharpest change came in the year to December 2021, when income rose by 56%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Narek Cultural Foundation 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 79th percentile, and in the 80th percentile within CA. Charities of a similar size with the same main cause include 1st Stage Inc ($1.0m), Gardena Valley Japanese Cultural Institute ($1.0m) and Society for Imaging Science and Technology ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $686k. At year end it held assets of $579k against liabilities of $11k, net assets of $568k. It reported 29 employees.