Open Channels New York Inc

Analysis

Open Channels New York Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 1994, 32 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, Open Channels New York Inc reported income of $579k and spending of $855k, spending 148% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $805k to $579k (-28%), an average of -7.9% a year. The sharpest change came in the year to December 2022, when income rose by 38%. Over the whole period it spent 121% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Open Channels New York Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within NY. Charities of a similar size with the same main cause include Heritage Guild of Collin County Texas ($579k), Gallup Inter-Tribal Indian Ceremonial Association Inc ($579k) and North Carolina Health News Inc ($579k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 57% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $75k (8.7% of expenses). Other salaries and wages came to $142k. At year end it held assets of $4.1m against liabilities of $544k, net assets of $3.6m. It reported 12 employees.