The Widernet Project

Analysis

The Widernet Project is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in May 2014, 12 years ago. Its declared purposes cover science and technology, 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 2021, The Widernet Project reported income of $122k and spending of $147k, spending 120% of what it took in. Across the 3 years on record, from December 2019 to December 2021, income fell from $175k to $122k (-30%), an average of -16% a year. The sharpest change came in the year to December 2020, when income dropped by 40%. Over the whole period it spent 113% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Widernet Project 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 40th percentile within NC. Charities of a similar size with the same main cause include Kim Eung Hwa & Korean Dance Academy ($122k), Red Flannel Festival ($122k) and Galbreath Family Charities Inc ($122k).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 66% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $17k (12% of expenses). Other salaries and wages came to $67k. At year end it held assets of $32k against liabilities of $157k, net assets of -$124k. It reported 11 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.