Economic Hardship Reporting Project

Analysis

Economic Hardship Reporting Project is a registered charity in United States, based in Brooklyn, 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, Economic Hardship Reporting Project reported income of $1.2m and spending of $1.3m, spending 109% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $965k to $1.2m (+27%), an average of +13% a year. The sharpest change came in the year to December 2022, when income rose by 32%. Over the whole period it spent 77% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Economic Hardship Reporting Project sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 78th percentile within NY. Charities of a similar size with the same main cause include Baldwin for the Arts Inc ($1.2m), Opera Grand Rapids ($1.2m) and Historic Homestake Opera House Society ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $266k (20% of expenses). Other salaries and wages came to $94k. At year end it held assets of $1.0m against liabilities of $186k, net assets of $831k. It reported 5 employees.