Knock on Wood Tap Studio Inc

Analysis

Knock on Wood Tap Studio Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in August 1995, 31 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 June 2024, Knock on Wood Tap Studio Inc reported income of $115k and spending of $134k, spending 116% of what it took in. Across the 3 years on record, from June 2022 to June 2024, income fell from $145k to $115k (-21%), an average of -11% a year. The sharpest change came in the year to June 2024, when income dropped by 18%. Over the whole period it spent 95% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Knock on Wood Tap Studio Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 21st percentile within DC. Charities of a similar size with the same main cause include Futbol Foundation of Santa Clarita ($115k), Lake in the Hillsalgonquin Falcons Youth Football Ltd ($115k) and Clarksville Dixie Youth Inc ($115k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 17% and program service revenue 76% of the total. At year end it held assets of $90k against liabilities of $9,398, net assets of $81k.