Bushwick Workshop Space Inc

Analysis

Bushwick Workshop Space Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in July 2019, 7 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 (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, Bushwick Workshop Space Inc reported income of $153k and spending of $251k, spending 164% of what it took in. Across the 3 years on record, from December 2020 to December 2023, income fell from $215k to $153k (-29%), an average of -16% a year. The sharpest change came in the year to December 2022, when income rose by 69%. Over the whole period it spent 90% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Bushwick Workshop Space Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 46th percentile within NY. Charities of a similar size with the same main cause include Creating Opportunities for Guatemalans ($153k), Creative Corridors Coalition ($153k) and Gci Training & Empowerment Center Inc ($153k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 55% and program service revenue 17% of the total. Other salaries and wages came to $117k. At year end it held assets of $114k against liabilities of $1,952, net assets of $112k. It reported 3 employees.