Silk Road Project Inc

Analysis

Silk Road Project Inc is a registered charity in United States, based in Somerville, MA. It received its IRS tax-exemption ruling in April 1999, 27 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 June 2023, Silk Road Project Inc reported income of $2.1m and spending of $3.9m, spending 189% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.2m to $2.1m (-36%), an average of -10% a year. The sharpest change came in the year to June 2021, when income rose by 193%. 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, Silk Road Project Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MA. Charities of a similar size with the same main cause include Arts at Large Inc ($2.1m), International Print Center New York ($2.1m) and Association of Biomolecular Resource Facilities ($2.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 73% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $925k (24% of expenses). Other salaries and wages came to $400k. At year end it held assets of $3.0m against liabilities of $358k, net assets of $2.6m. It reported 19 employees.