Brooklyn Arts Exchange Inc
Brooklyn Arts Exchange sees significant revenue and asset growth with no reported officer compensation, but liabilities have surged.
EIN: 113071458 · Brooklyn, NY · NTEE: A60Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.9M |
| Total Expenses | $1.8M |
| Program Spending | 80% |
| Net Assets | $1.5M |
| Transparency Score | 85/100 |
Is Brooklyn Arts Exchange Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Brooklyn Arts Exchange Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Brooklyn Arts Exchange Inc
Brooklyn Arts Exchange Inc (EIN: 113071458) is a nonprofit organization based in Brooklyn, NY, classified under NTEE code A60Z. The organization reported total revenue of $1.9M and total assets of $4.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Brooklyn Arts Exchange Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Brooklyn Arts Exchange Inc is a mid-size nonprofit that has been operating for 35 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.7M |
| Total Expenses | $1.8M |
| Surplus / Deficit | +$893K |
| Total Assets | $4.5M |
| Total Liabilities | $3.0M |
| Net Assets | $1.5M |
| Operating Margin | 32.6% |
| Debt-to-Asset Ratio | 65.7% |
| Months of Reserves | 29.2 months |
Financial Health Grade: A
In 2023, Brooklyn Arts Exchange Inc reported a surplus of $893K with revenue exceeding expenses, holds 29.2 months of operating reserves (strong position), has a debt-to-asset ratio of 65.7% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Brooklyn Arts Exchange Inc's revenue has grown at a compound annual growth rate (CAGR) of 8.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +17.6% | +9.8% | +327.5% |
| 2022 | +108.2% | +40.7% | +105.1% |
| 2021 | -18.7% | -11.3% | +14.9% |
| 2020 | -12.7% | -10.9% | +24.9% |
| 2019 | +20.0% | +1.6% | +20.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1991 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Brooklyn Arts Exchange Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Brooklyn Arts Exchange Inc allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $893K, with revenue exceeding expenses.
- Debt-to-asset ratio: 65.7%.
Executive Compensation Analysis
Brooklyn Arts Exchange consistently reports 0% officer compensation across all available filings, indicating that executive leadership is either unpaid, compensated through non-officer roles, or that the organization is primarily volunteer-led, which is highly favorable for directing funds to its mission.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Brooklyn Arts Exchange Inc's IRS 990 filings:
- Significant increase in liabilities from $401,181 in 2022 to $2,951,551 in 2023 without clear explanation in summary data.
Strengths
The following positive indicators were identified for Brooklyn Arts Exchange Inc:
- Consistent revenue growth, more than doubling from $1,119,888 in 2021 to $2,741,188 in 2023.
- Substantial asset accumulation, increasing from $512,604 in 2021 to $4,495,296 in 2023.
- Zero reported officer compensation across all available filings, indicating strong financial efficiency and commitment to mission.
- Positive net income in most recent years (e.g., $2,741,188 revenue vs. $1,847,712 expenses in 2023).
Frequently Asked Questions about Brooklyn Arts Exchange Inc
Is Brooklyn Arts Exchange Inc a legitimate charity?
Brooklyn Arts Exchange Inc (EIN: 113071458) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.9M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Brooklyn Arts Exchange Inc spend its money?
Brooklyn Arts Exchange Inc directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Brooklyn Arts Exchange Inc tax-deductible?
Brooklyn Arts Exchange Inc is registered as a tax-exempt nonprofit (EIN: 113071458). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Brooklyn Arts Exchange Inc's spending goes to programs?
Brooklyn Arts Exchange Inc directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Brooklyn Arts Exchange Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Brooklyn Arts Exchange Inc is above average for NTEE category A60Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Brooklyn Arts Exchange Inc located?
Brooklyn Arts Exchange Inc is headquartered in Brooklyn, New York and files with the IRS under EIN 113071458. It is classified under NTEE code A60Z.
How many years of IRS 990 filings does Brooklyn Arts Exchange Inc have?
Brooklyn Arts Exchange Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.9M in total revenue.
What caused the significant increase in liabilities from $401,181 in 2022 to $2,951,551 in 2023?
The provided data does not specify the nature of these liabilities, but given the concurrent increase in assets, it could be related to capital expenditures, property acquisition, or significant program expansion requiring debt financing or deferred revenue.
How does Brooklyn Arts Exchange sustain its operations without reported officer compensation?
The 0% officer compensation suggests that key leadership roles might be volunteer-based, compensated through other non-officer categories, or that the organization's structure minimizes traditional executive salaries, allowing more funds for programs.
What is the specific breakdown of program, administrative, and fundraising expenses?
The provided summary data does not offer a detailed breakdown of expenses into these categories. A deeper dive into the full IRS 990 forms would be necessary to determine these percentages accurately.
Filing History
IRS 990 filing history for Brooklyn Arts Exchange Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Brooklyn Arts Exchange Inc's revenue has grown by 163.7%, moving from $1.0M to $2.7M. Total assets increased by 959.7% over the same period, from $424K to $4.5M. Total functional expenses rose by 87.5%, from $986K to $1.8M. In its most recent filing year (2023), Brooklyn Arts Exchange Inc reported a surplus of $893K, with revenue exceeding expenses. The organization holds $3.0M in liabilities against $4.5M in assets (debt-to-asset ratio: 65.7%), resulting in net assets of $1.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.7M | $1.8M | $4.5M | $3.0M | — | View 990 |
| 2022 | $2.3M | $1.7M | $1.1M | $401K | — | View 990 |
| 2021 | $1.1M | $1.2M | $513K | $511K | — | View 990 |
| 2020 | $1.4M | $1.3M | $446K | $369K | — | View 990 |
| 2019 | $1.6M | $1.5M | $357K | $310K | — | View 990 |
| 2018 | $1.3M | $1.5M | $296K | $316K | — | View 990 |
| 2017 | $1.4M | $1.4M | $504K | $351K | — | View 990 |
| 2016 | $1.3M | $1.3M | $545K | $376K | — | View 990 |
| 2015 | $1.5M | $1.3M | $598K | $421K | — | View 990 |
| 2014 | $1.2M | $1.3M | $334K | $361K | — | View 990 |
| 2013 | $1.1M | $1.2M | $315K | $238K | — | View 990 |
| 2012 | $1.0M | $1.1M | $371K | $228K | — | View 990 |
| 2011 | $1.0M | $986K | $424K | $225K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.7M, expenses of $1.8M, and assets of $4.5M (revenue +17.6% year-over-year).
- 2022: Revenue of $2.3M, expenses of $1.7M, and assets of $1.1M (revenue +108.2% year-over-year).
- 2021: Revenue of $1.1M, expenses of $1.2M, and assets of $513K (revenue -18.7% year-over-year).
- 2020: Revenue of $1.4M, expenses of $1.3M, and assets of $446K (revenue -12.7% year-over-year).
- 2019: Revenue of $1.6M, expenses of $1.5M, and assets of $357K (revenue +20.0% year-over-year).
- 2018: Revenue of $1.3M, expenses of $1.5M, and assets of $296K (revenue -6.5% year-over-year).
- 2017: Revenue of $1.4M, expenses of $1.4M, and assets of $504K (revenue +5.5% year-over-year).
- 2016: Revenue of $1.3M, expenses of $1.3M, and assets of $545K (revenue -12.6% year-over-year).
- 2015: Revenue of $1.5M, expenses of $1.3M, and assets of $598K (revenue +29.0% year-over-year).
- 2014: Revenue of $1.2M, expenses of $1.3M, and assets of $334K (revenue +6.0% year-over-year).
- 2013: Revenue of $1.1M, expenses of $1.2M, and assets of $315K (revenue +9.0% year-over-year).
- 2012: Revenue of $1.0M, expenses of $1.1M, and assets of $371K (revenue -1.5% year-over-year).
- 2011: Revenue of $1.0M, expenses of $986K, and assets of $424K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Brooklyn Arts Exchange Inc:
Data Sources and Methodology
This transparency report for Brooklyn Arts Exchange Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.