Bang on a Can Inc

Analysis

Bang on a Can Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in January 1988, 38 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 August 2023, Bang on a Can Inc reported income of $3.6m and spending of $3.8m, spending 107% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $2.1m to $3.6m (+68%), an average of +14% a year. The sharpest change came in the year to August 2022, when income rose by 72%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Bang on a Can Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include Little Italy Association of San Diego ($3.6m), Duluth Playhouse Inc ($3.6m) and The Historymakers ($3.6m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 81% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $120k (3.2% of expenses). Other salaries and wages came to $765k. At year end it held assets of $1.2m against liabilities of $151k, net assets of $1.1m. It reported 15 employees.