Kings Majestic Corporation

Analysis

Kings Majestic Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in January 1994, 32 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, Kings Majestic Corporation reported income of $715k and spending of $1.3m, spending 176% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $997k to $715k (-28%), an average of -8.0% a year. The sharpest change came in the year to June 2023, when income dropped by 45%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Kings Majestic Corporation 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 City Ballet of Boston Inc ($715k), Journey Theater Arts Group ($715k) and The Community Outreach Coalition ($715k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $132k (10% of expenses). Other salaries and wages came to $208k. At year end it held assets of $516k against liabilities of $352k, net assets of $164k. It reported 11 employees.