Triple Cities Makerspace Inc

Analysis

Triple Cities Makerspace Inc is a registered charity in United States, based in Binghamton, NY. It received its IRS tax-exemption ruling in July 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 2022, Triple Cities Makerspace Inc reported income of $117k and spending of $151k, spending 128% of what it took in. Across the 2 years on record, from December 2021 to December 2022, income grew from $105k to $117k (+11%), an average of +11% a year. Over the whole period it spent 137% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Triple Cities Makerspace Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 40th percentile within NY. Charities of a similar size with the same main cause include Noir Black Chamber of Commerce Inc ($117k), Pennsylvania State Association of County Fairs ($117k) and Plymouth Rotary Foundation Inc ($117k).

On its Form 990-EZ for the period ending December 2022, revenue came from contributions and grants 84% and program service revenue 0.6% of the total. At year end it held assets of $167k against liabilities of $52k, net assets of $115k.