One Year Lease Inc

Analysis

One Year Lease Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 2002, 24 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, One Year Lease Inc reported income of $330k and spending of $405k, spending 123% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $254k to $330k (+30%), an average of +30% a year. The sharpest change came in the year to December 2023, when income rose by 30%. Over the whole period it spent 116% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, One Year Lease Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 60th percentile within NY. Charities of a similar size with the same main cause include Veterans Breakfast Club ($330k), West Falls Center for the Arts ($330k) and Gallup Public Radio ($329k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $32k. At year end it held assets of $516 against liabilities of $124k, net assets of -$124k.