New Way Circus Center Inc

Analysis

New Way Circus Center Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in May 1996, 30 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, New Way Circus Center Inc reported income of $380k and spending of $586k, spending 154% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.0m to $380k (-64%), an average of -22% a year. The sharpest change came in the year to June 2022, when income rose by 14126%. Over the whole period it spent 129% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, New Way Circus Center Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 62nd percentile within NY. Charities of a similar size with the same main cause include Future Athletes of Louisiana Inc ($380k), Washington County Fairground Inc ($380k) and Swift Aquatics LLC ($380k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $245k (42% of expenses). Other salaries and wages came to $22k. At year end it held assets of $164k against liabilities of $635k, net assets of -$471k. It reported 5 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.