Art of Brooklyn Festival

Analysis

Art of Brooklyn Festival is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in October 2016, 10 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, Art of Brooklyn Festival reported income of $122k and spending of $121k, spending 99% of its income. Across the 3 years on record, from December 2020 to December 2023, income grew from $71k to $122k (+71%), an average of +31% a year. The sharpest change came in the year to December 2023, when income rose by 42%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Art of Brooklyn Festival sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 41st percentile within NY. Charities of a similar size with the same main cause include World Peace Catalyst Fund ($122k), KC Melting Pot Theatre Productions Inc ($122k) and Israelite Nation History & Culture ($122k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 51% and program service revenue 19% of the total. At year end it held assets of $491 against liabilities of $0, net assets of $491.