Cherry Lane Alternative Inc

Analysis

Cherry Lane Alternative Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 1998, 28 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 July 2023, Cherry Lane Alternative Inc reported income of $171k and spending of $388k, spending 227% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income fell from $1.6m to $171k (-90%), an average of -43% a year. The sharpest change came in the year to July 2023, when income dropped by 81%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Cherry Lane Alternative Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 48th percentile within NY. Charities of a similar size with the same main cause include The Honor Network ($171k), Flux Foundation ($171k) and Franklin-Simpson Community Arts Council Inc ($171k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 5.8% and program service revenue 88% of the total. At year end it held assets of $518k against liabilities of $3,322, net assets of $515k. It reported 6 employees.