Coney Island USA

Analysis

Coney Island USA is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in April 1989, 37 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, Coney Island USA reported income of $672k and spending of $727k, spending 108% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $930k to $672k (-28%), an average of -6.3% a year. The sharpest change came in the year to December 2021, when income rose by 207%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Coney Island USA 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 74th percentile, and in the 70th percentile within NY. Charities of a similar size with the same main cause include Laurel School of Music ($672k), Kitchen Theatre Company Inc ($672k) and Southeastern Railway Museum ($672k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 26% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $131k (18% of expenses). At year end it held assets of $5.4m against liabilities of $0, net assets of $5.4m. It reported 34 employees.