Wet Ink Music Productions Inc

Analysis

Wet Ink Music Productions Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 2002, 24 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 August 2023, Wet Ink Music Productions Inc reported income of $161k and spending of $167k, spending 104% of its income. Across the 2 years on record, from August 2022 to August 2023, income grew from $116k to $161k (+39%), an average of +39% a year. The sharpest change came in the year to August 2023, when income rose by 39%. Over the whole period it spent 106% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Wet Ink Music Productions Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 47th percentile within NY. Charities of a similar size with the same main cause include Lone Tree Symphony Orchestra ($161k), Asian Arts Talents Foundation ($161k) and Nanticoke Historic Preservationalliance Inc ($161k).

On its Form 990-EZ for the period ending August 2023, revenue came from contributions and grants 60% and program service revenue 40% of the total. At year end it held assets of $38k against liabilities of $0, net assets of $38k.