Caribbeing Inc

Analysis

Caribbeing Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 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 June 2023, Caribbeing Inc reported income of $442k and spending of $430k, spending 97% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $159k to $442k (+177%), an average of +177% a year. The sharpest change came in the year to June 2023, when income rose by 177%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Caribbeing Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 64th percentile within NY. Charities of a similar size with the same main cause include Center for American Archeology ($442k), Round Canopy Parachuting Team-Usa Foundation Inc ($442k) and The Excelsior Foundation ($441k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $66k (15% of expenses). At year end it held assets of $133k against liabilities of $185k, net assets of -$51k. It reported 2 employees.