Wnet

Analysis

Wnet is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 2009, 17 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, Wnet reported income of $111.1m and spending of $133.3m, spending 120% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $119.0m to $111.1m (-6.7%), an average of -1.7% a year. The sharpest change came in the year to June 2023, when income dropped by 27%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Wnet 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 99th percentile within NY. Charities of a similar size with the same main cause include Field Museum of Natural History ($110.1m), National Arts Centre Corporation ($111.7m) and Royal National Theatre ($107.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% and program service revenue 5.8% of the total. Compensation of current officers, directors and key employees was $4.0m (3.0% of expenses). Other salaries and wages came to $40.9m. It paid $814k in professional fundraising fees. At year end it held assets of $386.9m against liabilities of $39.0m, net assets of $347.9m. It reported 791 employees.