Capital B News Inc

Analysis

Capital B News Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 2021, 5 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, Capital B News Inc reported income of $4.6m and spending of $4.6m, spending 100% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $6.1m to $4.6m (-24%), an average of -13% a year. The sharpest change came in the year to December 2023, when income dropped by 30%. Over the whole period it spent 53% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Capital B News 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 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Lyric Theatre of Oklahoma Inc ($4.6m), Bay Street Theatre Festival Inc ($4.6m) and Rolling Hills Zoo Foundation ($4.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 1.1% of the total. Compensation of current officers, directors and key employees was $905k (19% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $7.9m against liabilities of $77k, net assets of $7.8m. It reported 33 employees.