NXTHVN Inc

Analysis

NXTHVN Inc is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in July 2019, 7 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 2023, NXTHVN Inc reported income of $5.8m and spending of $4.0m, leaving 31% of income unspent that year. Across the 5 years on record, from August 2018 to June 2023, income grew from $218k to $5.8m (+2551%), an average of +127% a year. The sharpest change came in the year to June 2020, when income rose by 333%. Over the whole period it spent 64% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, NXTHVN Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within CT. Charities of a similar size with the same main cause include Paul Taylor Dance Foundation Inc ($5.8m), The Cici and Hyatt Brown Museum of Art Science & History Inc ($5.8m) and Milwaukee Symphony Orchestra Foundation ($5.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 2.2% of the total. Compensation of current officers, directors and key employees was $86k (2.2% of expenses). Other salaries and wages came to $473k. At year end it held assets of $21.7m against liabilities of $13.8m, net assets of $7.9m. It reported 12 employees.