Water Street Glassworks

Analysis

Water Street Glassworks is a registered charity in United States, based in Benton Harbor, MI. It received its IRS tax-exemption ruling in July 2007, 19 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Water Street Glassworks reported income of $380k and spending of $426k, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $300k to $380k (+27%), an average of +6.1% a year. The sharpest change came in the year to December 2020, when income rose by 28%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Water Street Glassworks sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 66th percentile within MI. Charities of a similar size with the same main cause include Agni Foundation for the Arts ($380k), Jefferson Matters Main Street ($380k) and Michigan Architectural Foundation ($380k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 23% and program service revenue 31% of the total. Other salaries and wages came to $239k. At year end it held assets of $254k against liabilities of $32k, net assets of $222k. It reported 14 employees.