Its My Community Initiative

Analysis

Its My Community Initiative is a registered charity in United States, based in Oklahoma City, OK. It received its IRS tax-exemption ruling in March 2004, 22 years ago. Its declared purposes cover social science, 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 June 2023, Its My Community Initiative reported income of $3.0m and spending of $3.3m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.3m to $3.0m (-43%), an average of -13% a year. The sharpest change came in the year to June 2020, when income dropped by 38%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Its My Community Initiative sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within OK. Charities of a similar size with the same main cause include Virginia Museum of Contemporary Art ($3.0m), Arts Center Association Inc ($3.0m) and Chandler Cultural Foundation ($3.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 5.1% of the total. Compensation of current officers, directors and key employees was $60k (1.8% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $1.5m against liabilities of $985k, net assets of $529k. It reported 67 employees.