Brooklyn Arts Exchange Inc

Analysis

Brooklyn Arts Exchange Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in September 1991, 35 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, Brooklyn Arts Exchange Inc reported income of $2.7m and spending of $1.8m, leaving 33% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.6m to $2.7m (+74%), an average of +15% a year. The sharpest change came in the year to June 2022, when income rose by 108%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Brooklyn Arts Exchange Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Molecular Sciences Research Center Inc ($2.7m), Center for the Arts of Bonita Springs Inc ($2.7m) and Apollos Fire Baroque ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 69% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $205k (11% of expenses). Other salaries and wages came to $788k. At year end it held assets of $4.5m against liabilities of $3.0m, net assets of $1.5m. It reported 74 employees.