Bargemusic Ltd

Analysis

Bargemusic Ltd is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in December 1978, 48 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 August 2024, Bargemusic Ltd reported income of $706k and spending of $757k, spending 107% of what it took in. Across the 6 years on record, from August 2019 to August 2024, income fell from $865k to $706k (-18%), an average of -4.0% a year. The sharpest change came in the year to August 2020, when income dropped by 31%. Over the whole period it spent 112% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Bargemusic Ltd sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 71st percentile within NY. Charities of a similar size with the same main cause include Ernest a Finney Jr Cultural Arts CE Nter ($706k), Athens-Clarke Heritage Foundation Inc ($706k) and Annie B Jones Civic Arts Center ($706k).

On its Form 990 for the period ending August 2024, revenue came from contributions and grants 81% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $235k (31% of expenses). Other salaries and wages came to $132k. At year end it held assets of $795k against liabilities of $77k, net assets of $717k. It reported 3 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.