Knickerbocker Music Center Inc

Analysis

Knickerbocker Music Center Inc is a registered charity in United States, based in Westerly, RI. It received its IRS tax-exemption ruling in March 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, Knickerbocker Music Center Inc reported income of $928k and spending of $960k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $722k to $928k (+29%), an average of +6.5% a year. The sharpest change came in the year to December 2021, when income rose by 90%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Knickerbocker Music Center Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 75th percentile within RI. Charities of a similar size with the same main cause include Cosley Foundation Inc ($928k), The National Trust for Scotland Foundation USA Inc ($928k) and Foundation for the Exhibition of Photography ($928k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 23% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $78k (8.1% of expenses). Other salaries and wages came to $178k. At year end it held assets of $37k against liabilities of $58k, net assets of -$21k. It reported 42 employees.