Broadway Grand Rapids

Analysis

Broadway Grand Rapids is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in October 1988, 38 years ago. 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 June 2024, Broadway Grand Rapids reported income of $15.1m and spending of $14.3m, spending 95% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $13.5m to $15.1m (+12%), an average of +2.8% a year. The sharpest change came in the year to June 2022, when income rose by 2423%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Broadway Grand Rapids sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MI. Charities of a similar size with the same main cause include Garrett County Maryland Community Action Committee Inc ($15.1m), Auxiliary Campus Enterprises and Services State University College ($15.1m) and Lutheran Home-Hickory West Inc ($15.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 2.6% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $329k (2.3% of expenses). Other salaries and wages came to $192k. At year end it held assets of $3.9m against liabilities of $1.4m, net assets of $2.5m. It reported 6 employees.