Hip Hop Theater Festival Inc

Analysis

Hip Hop Theater Festival Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 2014, 12 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, Hip Hop Theater Festival Inc reported income of $640k and spending of $924k, spending 144% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $546k to $640k (+17%), an average of +4.1% a year. The sharpest change came in the year to June 2021, when income rose by 61%. Over the whole period it spent 86% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hip Hop Theater Festival Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within NY. Charities of a similar size with the same main cause include Washakie Museum ($640k), Black Farmers Collective ($640k) and Mansfield Fine Arts Guild Inc ($639k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 2.5% of the total. Compensation of current officers, directors and key employees was $120k (13% of expenses). Other salaries and wages came to $291k. At year end it held assets of $764k against liabilities of $193k, net assets of $570k. It reported 7 employees.