N1 Foundation Inc

Analysis

N1 Foundation Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in November 2007, 19 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending November 2023, N1 Foundation Inc reported income of $882k and spending of $906k, spending 103% of its income. Across the 5 years on record, from November 2019 to November 2023, income grew from $650k to $882k (+36%), an average of +7.9% a year. The sharpest change came in the year to November 2021, when income rose by 26%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, N1 Foundation Inc sits at the 84th percentile: it is larger than about 84% 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 Lightworks Collective Inc ($881k), Spanish Colonial Arts Society Inc ($882k) and Commonwealth Theatre Center Inc ($881k).

On its Form 990 for the period ending November 2023, revenue came from contributions and grants 45% and program service revenue 50% of the total. Compensation of current officers, directors and key employees was $36k (4.0% of expenses). Other salaries and wages came to $349k. At year end it held assets of $497k against liabilities of $195k, net assets of $301k. It reported 18 employees.