The Tank Ltd

Analysis

The Tank Ltd is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Tank Ltd reported income of $1.7m and spending of $1.4m, spending 81% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $858k to $1.7m (+96%), an average of +18% a year. The sharpest change came in the year to June 2022, when income rose by 55%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Tank Ltd sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Craft Contemporary ($1.7m), Museum of Contemporary African Diasporian Arts ($1.7m) and Cultural Alliance of York County ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 61% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $51k (3.7% of expenses). Other salaries and wages came to $280k. At year end it held assets of $2.3m against liabilities of $1.6m, net assets of $654k. It reported 24 employees.