Victory Music & Dance Company Inc

Analysis

Victory Music & Dance Company Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Victory Music & Dance Company Inc reported income of $1.1m and spending of $1.1m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $643k to $1.1m (+78%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 59%. Over the whole period it spent 108% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Victory Music & Dance Company Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Magic Theatre Inc ($1.1m), First State Ballet Theatre Inc ($1.1m) and Cool Culture Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $93k (8.8% of expenses). Other salaries and wages came to $352k. At year end it held assets of $479k against liabilities of $531k, net assets of -$52k. It reported 3 employees.