Mela Foundation Inc

Analysis

Mela Foundation Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in October 1987, 39 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 June 2023, Mela Foundation Inc reported income of $183k and spending of $387k, spending 212% of what it took in. Across the 4 years on record, from June 2019 to June 2023, income fell from $317k to $183k (-42%), an average of -17% a year. The sharpest change came in the year to June 2020, when income dropped by 33%. Over the whole period it spent 145% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Mela Foundation Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 49th percentile within NY. Charities of a similar size with the same main cause include Helena Tourism Alliance ($183k), Brevard Veterans Memorial Center Inc ($183k) and Texas Wendish Heritage Society Inc ($183k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 63% and program service revenue 35% of the total. At year end it held assets of $59k against liabilities of $705k, net assets of -$646k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.