Watttime Corporation

Analysis

Watttime Corporation is a registered charity in United States, based in Oakland, CA. It received its IRS tax-exemption ruling in August 2015, 11 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 (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, Watttime Corporation reported income of $12.1m and spending of $12.5m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.6m to $12.1m (+649%), an average of +65% a year. The sharpest change came in the year to June 2020, when income rose by 218%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Watttime Corporation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within CA. Charities of a similar size with the same main cause include Institute of Contemporary Art Miami Inc ($12.1m), Levine Music Inc ($12.1m) and Settlement Music School of Philadelphia ($12.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $479k (3.8% of expenses). Other salaries and wages came to $3.7m. At year end it held assets of $5.8m against liabilities of $1.5m, net assets of $4.3m. It reported 29 employees.