Hook Arts Media Inc

Analysis

Hook Arts Media Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in May 1980, 46 years ago. 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 December 2023, Hook Arts Media Inc reported income of $968k and spending of $980k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $720k to $968k (+34%), an average of +7.7% a year. The sharpest change came in the year to December 2021, when income rose by 63%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hook Arts Media Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 75th percentile within NY. Charities of a similar size with the same main cause include Kentucky Christian School Inc ($968k), Putnam Baptist Homes Inc ($968k) and Young Mens Christian Association Inc<unicoi County Family YMCA Inc ($968k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $100k (10% of expenses). Other salaries and wages came to $440k. It paid $25k in professional fundraising fees. At year end it held assets of $932k against liabilities of $55k, net assets of $877k. It reported 24 employees.