Yarnwire Inc

Analysis

Yarnwire Inc is a registered charity in United States, based in Ridgewood, NY. It received its IRS tax-exemption ruling in June 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 July 2023, Yarnwire Inc reported income of $528k and spending of $532k, spending 101% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $222k to $528k (+137%), an average of +24% a year. The sharpest change came in the year to July 2022, when income rose by 127%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Yarnwire Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 67th percentile within NY. Charities of a similar size with the same main cause include Marigny Opera House Foundation ($528k), Alabaster Arts Council Inc ($528k) and Celtic Fest Inc ($528k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 53% and program service revenue 47% of the total. Compensation of current officers, directors and key employees was $61k (12% of expenses). Other salaries and wages came to $126k. At year end it held assets of $87k against liabilities of $2,789, net assets of $84k. It reported 5 employees.