Inuit Art Foundation

Analysis

Inuit Art Foundation is a registered charity in United States, based in Canada. It received its IRS tax-exemption ruling in September 1994, 32 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3).

In the financial year ending March 2023, Inuit Art Foundation reported income of $2.0m and spending of $2.4m, spending 121% of what it took in. Across the 5 years on record, from March 2019 to March 2023, income grew from $1.1m to $2.0m (+72%), an average of +15% a year. The sharpest change came in the year to March 2020, when income rose by 33%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Inuit Art Foundation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile. Charities of a similar size with the same main cause include Geisinger Insurance Corporation Risk Retention Group ($2.0m), National Repertory Orchestra Inc Colorado Philharmonic ($2.0m) and Project Safe Inc ($2.0m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 90% and program service revenue 8.6% of the total. Other salaries and wages came to $1.0m. At year end it held assets of $1.4m against liabilities of $260k, net assets of $1.2m.