Poets House Inc

Analysis

Poets House Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 1985, 41 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, Poets House Inc reported income of $2.1m and spending of $1.1m, leaving 45% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.3m to $2.1m (+59%), an average of +12% a year. The sharpest change came in the year to December 2022, when income rose by 20%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Poets House Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 83rd percentile within NY. Charities of a similar size with the same main cause include Spaces ($2.1m), Shotgun Players Inc ($2.1m) and Bay of Pigs Museum and Library of the 2506th Brigade Inc ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 2.0% of the total. Compensation of current officers, directors and key employees was $362k (32% of expenses). Other salaries and wages came to $67k. At year end it held assets of $9.0m against liabilities of $1.0m, net assets of $8.0m. It reported 5 employees.