Cool Culture Inc

Analysis

Cool Culture Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in February 2003, 23 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, Cool Culture Inc reported income of $1.1m and spending of $1.7m, spending 149% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.1m to $1.1m (+2.2%), an average of +0.5% a year. The sharpest change came in the year to June 2021, when income rose by 38%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Cool Culture Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Childrens Museum of Idaho Inc ($1.1m), Magic Theatre Inc ($1.1m) and Daisy Wilson Artist Community Inc ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 45% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $202k (12% of expenses). Other salaries and wages came to $908k. At year end it held assets of $825k against liabilities of $103k, net assets of $722k. It reported 18 employees.