Spoke the Hub Dancing Inc

Analysis

Spoke the Hub Dancing Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 1980, 46 years ago. 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 2024, Spoke the Hub Dancing Inc reported income of $123k and spending of $179k, spending 145% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $362k to $123k (-66%), an average of -19% a year. The sharpest change came in the year to June 2022, when income rose by 47%. Over the whole period it spent 120% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Spoke the Hub Dancing Inc sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 41st percentile within NY. Charities of a similar size with the same main cause include Information Trust Exchange Governing Association ($123k), Little League Baseball Inc ($123k) and Jesse Stuart Foundation Inc ($123k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 10% and program service revenue 4.2% of the total. At year end it held assets of $47k against liabilities of $182k, net assets of -$134k.

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.