Lonely Whale Inc

Analysis

Lonely Whale Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 2022, 4 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Lonely Whale Inc reported income of $74k and spending of $172k, spending 232% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $221k to $74k (-66%), an average of -66% a year. The sharpest change came in the year to December 2023, when income dropped by 66%. Over the whole period it spent 123% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lonely Whale Inc sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 30th percentile within NY. Charities of a similar size with the same main cause include Read 2 Lead Afghanistan Corp ($74k), San Antonio Womens Chamber of Commerce Foundation Inc ($74k) and Kiwanis Club of Madison Foundation ($74k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 5.9% and program service revenue 94% of the total. At year end it held assets of $6,158 against liabilities of $0, net assets of $6,158.