M-Ark Project Inc

Analysis

M-Ark Project Inc is a registered charity in United States, based in Arkville, NY. It received its IRS tax-exemption ruling in June 1983, 43 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, M-Ark Project Inc reported income of $871k and spending of $764k, spending 88% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $796k to $871k (+9.4%), an average of +3.1% a year. The sharpest change came in the year to June 2021, when income rose by 50%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, M-Ark Project Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 74th percentile within NY. Charities of a similar size with the same main cause include Barksdale Forward Inc ($871k), Friends of the Goss Opera House Inc ($872k) and Thinkwatts Foundation ($871k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 87% and program service revenue 5.0% of the total. Compensation of current officers, directors and key employees was $61k (7.9% of expenses). Other salaries and wages came to $115k. At year end it held assets of $2.0m against liabilities of $312k, net assets of $1.7m. It reported 6 employees.