Bonnet House Inc

Analysis

Bonnet House Inc is a registered charity in United States, based in Ft Lauderdale, FL. It received its IRS tax-exemption ruling in April 1992, 34 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 June 2024, Bonnet House Inc reported income of $2.8m and spending of $2.9m, spending 103% of its income. Across the 5 years on record, from June 2020 to June 2024, income fell from $22.0m to $2.8m (-87%), an average of -40% a year. The sharpest change came in the year to June 2021, when income dropped by 91%. Over the whole period it spent 34% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Bonnet House Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within FL. Charities of a similar size with the same main cause include Young Audiences of New Jersey ($2.8m), Michigans Thanksgiving Parade Foundation ($2.8m) and Manufacturing Technology Deployment Group ($2.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 41% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $272k (9.5% of expenses). Other salaries and wages came to $963k. At year end it held assets of $28.0m against liabilities of $314k, net assets of $27.6m. It reported 49 employees.