Basement Films Inc

Analysis

Basement Films Inc is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in March 2003, 23 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 September 2023, Basement Films Inc reported income of $69k and spending of $62k, spending 89% of its income. Across the 2 years on record, from September 2022 to September 2023, income grew from $40k to $69k (+71%), an average of +71% a year. The sharpest change came in the year to September 2023, when income rose by 71%. Over the whole period it spent 80% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Basement Films Inc sits at the 31st percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 23rd percentile within NM. Charities of a similar size with the same main cause include Changing Faces Theater Company ($69k), Montclair Academy of Dance and Laboratory of Music Inc ($69k) and Southeast Musuem Association Inc ($69k).

On its Form 990-EZ for the period ending September 2023, revenue came from contributions and grants 86% and program service revenue 11% of the total. At year end it held assets of $50k against liabilities of $0, net assets of $50k.