Red Hook Art Project Inc

Analysis

Red Hook Art Project Inc is a registered charity in United States, based in Brooklyn, 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 December 2023, Red Hook Art Project Inc reported income of $506k and spending of $611k, spending 121% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $583k to $506k (-13%), an average of -4.6% a year. The sharpest change came in the year to December 2023, when income dropped by 35%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Red Hook Art Project Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 66th percentile within NY. Charities of a similar size with the same main cause include New York City Fire Museum ($506k), Monica Bill Barnes & Company ($506k) and Boulder Ensemble Theatre Company ($506k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $81k (13% of expenses). Other salaries and wages came to $156k. At year end it held assets of $236k against liabilities of $3,455, net assets of $233k. It reported 8 employees.