Openhousenewyork Inc

Analysis

Openhousenewyork Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 2002, 24 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 December 2023, Openhousenewyork Inc reported income of $950k and spending of $1.1m, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $872k to $950k (+8.9%), an average of +2.2% a year. The sharpest change came in the year to December 2020, when income dropped by 27%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Openhousenewyork Inc 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 79th percentile, and in the 75th percentile within NY. Charities of a similar size with the same main cause include International Swimming Hall of Fame Inc ($949k), Schenectady County Historical ($950k) and Amphibian Productions Inc ($949k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 6.8% of the total. Compensation of current officers, directors and key employees was $179k (17% of expenses). Other salaries and wages came to $341k. It paid $37k in professional fundraising fees. At year end it held assets of $344k against liabilities of $131k, net assets of $213k. It reported 7 employees.