Tkiya Music Inc

Analysis

Tkiya Music Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in May 2018, 8 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, Tkiya Music Inc reported income of $488k and spending of $561k, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $414k to $488k (+18%), an average of +4.2% a year. The sharpest change came in the year to December 2023, when income rose by 45%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Tkiya Music Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 66th percentile within NY. Charities of a similar size with the same main cause include Faith Unity Inc ($488k), Miami Hispanic Ballet Corp ($488k) and Fort Peck Fine Arts Council ($488k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 22% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $111k (20% of expenses). Other salaries and wages came to $312k. At year end it held assets of $186k against liabilities of $220k, net assets of -$34k. It reported 23 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.