Universal Hip Hop Museum

Analysis

Universal Hip Hop Museum is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Universal Hip Hop Museum reported income of $2.4m and spending of $2.2m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $309k to $2.4m (+681%), an average of +67% a year. The sharpest change came in the year to December 2021, when income rose by 1586%. Over the whole period it spent 71% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Universal Hip Hop Museum sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 84th percentile within NY. Charities of a similar size with the same main cause include Santa Barbara Maritime Museum ($2.4m), Miami Broward One Carnival Host Committee Inc ($2.4m) and The Long Island Museum of American Art History & Carriages ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 6.3% of the total. Compensation of current officers, directors and key employees was $111k (5.0% of expenses). Other salaries and wages came to $187k. It paid $153k in professional fundraising fees. At year end it held assets of $3.0m against liabilities of $667k, net assets of $2.3m. It reported 6 employees.