Boffo Inc

Analysis

Boffo Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in April 2011, 15 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, Boffo Inc reported income of $651k and spending of $686k, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $222k to $651k (+193%), an average of +31% a year. The sharpest change came in the year to December 2022, when income rose by 72%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Boffo Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within NY. Charities of a similar size with the same main cause include Westford Community Access Television Inc ($651k), Northfield Arts Guild ($651k) and East Troy Railroad Museum Inc ($651k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $100k (15% of expenses). Other salaries and wages came to $74k. At year end it held assets of $99k against liabilities of $146k, net assets of -$48k. It reported 3 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.