Byrd Hoffman Water Mill Foundation

Analysis

Byrd Hoffman Water Mill Foundation is a registered charity in United States, based in Water Mill, NY. It received its IRS tax-exemption ruling in March 2001, 25 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, Byrd Hoffman Water Mill Foundation reported income of $7.1m and spending of $4.0m, leaving 44% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $10.0m to $7.1m (-29%), an average of -8.2% a year. The sharpest change came in the year to December 2023, when income rose by 216%. Over the whole period it spent 67% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Byrd Hoffman Water Mill Foundation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Alaska Native Heritage Center Inc ($7.1m), First Step Housing ($7.1m) and Theatre for a New Audience Inc ($7.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 101% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $300k (7.5% of expenses). Other salaries and wages came to $855k. At year end it held assets of $43.7m against liabilities of $3.3m, net assets of $40.3m. It reported 18 employees.