Universal Communications Network Inc

Analysis

Universal Communications Network Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 2002, 24 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 2022, Universal Communications Network Inc reported income of $48.9m and spending of $28.3m, leaving 42% of income unspent that year. Across the 5 years on record, from December 2018 to December 2022, income grew from $21.9m to $48.9m (+123%), an average of +22% a year. The sharpest change came in the year to December 2021, when income rose by 98%. Over the whole period it spent 69% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Universal Communications Network Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Whyy Inc ($48.1m), National Inventors Hall of Fame Inc ($49.3m) and Mercatus Center Inc ($47.4m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 94% and program service revenue 6.1% of the total. Compensation of current officers, directors and key employees was $161k (0.6% of expenses). Other salaries and wages came to $3.3m. At year end it held assets of $43.9m against liabilities of $8.0m, net assets of $35.9m. It reported 108 employees.