Building Beats Incorporated

Analysis

Building Beats Incorporated is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in September 2014, 12 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Building Beats Incorporated reported income of $1.1m and spending of $1.1m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $374k to $1.1m (+187%), an average of +30% a year. The sharpest change came in the year to June 2021, when income rose by 50%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Building Beats Incorporated sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Lufkin Educational Broadcasting Foundation ($1.1m), California Bluegrass Asso ($1.1m) and Wave Foundation Inc ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 26% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $61k (5.5% of expenses). Other salaries and wages came to $800k. At year end it held assets of $545k against liabilities of $96k, net assets of $448k. It reported 53 employees.