Friends of the New York Transit Museum

Analysis

Friends of the New York Transit Museum is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in February 1996, 30 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 December 2023, Friends of the New York Transit Museum reported income of $2.5m and spending of $2.4m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.8m to $2.5m (-10.0%), an average of -2.6% a year. The sharpest change came in the year to December 2021, when income rose by 37%. Over the whole period it spent 81% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of the New York Transit Museum 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 Memphis Equity Through Arts Meta Incorporated ($2.5m), Two Blades Foundation ($2.5m) and Ashwabay Alliance Inc ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 51% and program service revenue 32% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $14.7m against liabilities of $1.1m, net assets of $13.6m. It reported 97 employees.