Staten Island Makerspace Inc

Analysis

Staten Island Makerspace Inc is a registered charity in United States, based in Staten Island, NY. It received its IRS tax-exemption ruling in June 2014, 12 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Staten Island Makerspace Inc reported income of $1.1m and spending of $1.2m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $595k to $1.1m (+91%), an average of +18% a year. The sharpest change came in the year to December 2022, when income rose by 91%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Staten Island Makerspace Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Brothers United in Leadership Development Build ($1.1m), Nelson Char Subtrust 01-21957 01 ($1.1m) and Imadi Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $176k (14% of expenses). Other salaries and wages came to $228k. At year end it held assets of $354k against liabilities of $3,620, net assets of $350k. It reported 16 employees.