Wassaic Project Inc

Analysis

Wassaic Project Inc is a registered charity in United States, based in Wassaic, NY. It received its IRS tax-exemption ruling in June 2012, 14 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 March 2023, Wassaic Project Inc reported income of $1.5m and spending of $1.0m, leaving 34% of income unspent that year. Across the 5 years on record, from March 2019 to March 2023, income grew from $639k to $1.5m (+141%), an average of +24% a year. The sharpest change came in the year to March 2021, when income rose by 90%. Over the whole period it spent 76% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Wassaic Project Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Amherst Cinema Arts Center Inc ($1.5m), Enriching Lives Through Music ($1.5m) and Scientific Committee on Oceanic Research ($1.5m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 83% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $198k (20% of expenses). Other salaries and wages came to $244k. At year end it held assets of $2.3m against liabilities of $795k, net assets of $1.5m. It reported 9 employees.