Five Myles Inc

Analysis

Five Myles Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 2000, 26 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, Five Myles Inc reported income of $169k and spending of $187k, spending 111% of what it took in. Across the 3 years on record, from June 2021 to June 2023, income fell from $217k to $169k (-22%), an average of -12% a year. The sharpest change came in the year to June 2023, when income dropped by 16%. 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, Five Myles 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 Childrens Playhouse of Maryland Inc ($169k), Gaspard&dancers Inc ($169k) and Origins Performing Arts Inc ($169k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 3.6% of the total. Compensation of current officers, directors and key employees was $50k (27% of expenses). Other salaries and wages came to $48k. At year end it held assets of $104k against liabilities of $1,636, net assets of $102k. It reported 3 employees.