Dancewave Inc

Analysis

Dancewave Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in July 1988, 38 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 2023, Dancewave Inc reported income of $1.2m and spending of $1.2m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.2m to $1.2m (-0.4%), an average of -0.1% a year. The sharpest change came in the year to June 2022, when income rose by 27%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Dancewave Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Quitman County Educational Foundation Inc ($1.2m), Carlisle Extended Day Program Inc ($1.2m) and Watsonville Civic Plaza Property Owners Association ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 35% and program service revenue 61% of the total. Compensation of current officers, directors and key employees was $105k (8.6% of expenses). Other salaries and wages came to $729k. At year end it held assets of $2.2m against liabilities of $1.4m, net assets of $789k. It reported 94 employees.