Artshack Brooklyn

Analysis

Artshack Brooklyn is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in May 2016, 10 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, Artshack Brooklyn reported income of $2.2m and spending of $2.1m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $749k to $2.2m (+189%), an average of +30% a year. The sharpest change came in the year to December 2021, when income rose by 114%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Artshack Brooklyn sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 83rd percentile within NY. Charities of a similar size with the same main cause include Kids Dance Outreach Inc ($2.2m), National Wrestling Hall of Fame Inc ($2.2m) and Paramount Hudson Valley Arts ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 9.9% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $113k (5.5% of expenses). Other salaries and wages came to $636k. At year end it held assets of $1.6m against liabilities of $1.3m, net assets of $304k. It reported 31 employees.