Powerhouse Arts Inc

Analysis

Powerhouse Arts Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in February 2015, 11 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, Powerhouse Arts Inc reported income of $3.2m and spending of $15.8m, spending 497% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.6m to $3.2m (-31%), an average of -8.8% a year. The sharpest change came in the year to June 2022, when income rose by 269%. Over the whole period it spent 158% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Powerhouse Arts Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 86th percentile within NY. Charities of a similar size with the same main cause include PMML North Inc ($3.2m), The Basilica Landmark ($3.2m) and Nashville Repertory Theatre Inc ($3.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $671k (4.3% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $330.3m against liabilities of $158.6m, net assets of $171.7m. It reported 57 employees.